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.

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Source Fool.com