Why Rocket Lab Stock Is Blasting Higher Today
Another day, another contract win for Rocket Lab USA (NASDAQ: RKLB). Investors are taking notice, lifting shares of the space start-up as much as 6% on Thursday afternoon before closing up 3.2%.
Rocket Lab is one of a handful of young space stocks trying to elbow in on a business traditionally controlled by a handful of large incumbents. Much of that potential business comes from the U.S. government, which has been trying to lessen its reliance on defense primes and increase innovation.
It's been a good week for Rocket Lab on the contract front. On Monday, the company announced a U.S. Space Force contract valued at $14.5 million. Just days later, Rocket Lab announced that Space Force had also selected it for a separate $32 million award for a tactically responsive space mission.
Source Fool.com
