RocketLab USA
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Shares of Rocket Lab USA climbed to a record high Monday as the space satellite services provider announced two successful launches.
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The company said it also completed a $23.9 million CHIPS and Sciences Act of 2022 award for making compound semiconductors.
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Thanks to Monday’s gains, the stock has more than quadrupled in value since the start of the year.
Shares of SpaceX competitor Rocket Lab USA (RKLB) climbed to a record high Monday as the space satellite services provider announced two successful launches and finalized a multimillion-dollar government grant.
Rocket Lab said the ‘Ice AIS Baby’ mission lifted off from its launch site in New Zealand on Monday, putting five satellites into low Earth orbit for Kineis, a France-based internet of things (IoT) constellation operator . That happened less than 22 hours after the company launched a rocket from its complex in Virginia.
Founder and CEO Peter Beck said launching two missions in such a short time demonstrated the company’s “unprecedented capabilities in the small launch market”. The company has had a total of 56 successful space missions since its founding.
In conjunction with the launches, Rocket Lab reported that it was awarded a $23.9 million award from the Department of Commerce under the CHIPS and Science Act of 2022. The funds will be used to expand compound semiconductor manufacturing and capacity in Albuquerque, New Mexico, to enlarge. plant.
Shares of Rocket Lab rose after the opening bell on Monday before paring some gains later in the session. They rose about 3% to $23.94 in intraday trading and have more than quadrupled in value since the start of the year.
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