Why Rocket Lab USA Stock Was Soaring This Week
News coming from Rocket Lab USA (NASDAQ: RKLB) tilted heavily toward the positive over the last five trading days. That inspired market players to buy the company's stock, to the point where it notched a convincing double-digit gain. According to data compiled by S&P Global Market Intelligence, Rocket Lab's shares rocketed (sorry) more than 28% higher over the course of the week.
On Tuesday, Rocket Lab announced a major change in its C-suite. The company said it hired a new COO, Frank Klein, and is wasting little time installing him in the new position. He will formally take up the job this coming Monday, Sept. 16.
Klein is a 30-plus year veteran of the automotive industry, Rocket Lab wrote in its press release on its latest high-level hire. He filled a number of managerial roles at the company now known as Mercedes-Benz Group during a 27-year stint at the famous vehicle maker. Among these many positions was vice president of van operations.
Source Fool.com
