Rocket Lab USA (RKLB) Stock: Why The Price Increased

By Amit Chowdhry ● Mar 23, 2022
  • The stock price of Rocket Lab USA Inc (NASDAQ: RKLB) increased by 1.93% in the most recent trading session. This is why.

The stock price of Rocket Lab USA Inc (NASDAQ: RKLB) – a global leader in launch services, space systems, and space solar power products – increased by 1.93% in the most recent trading session. Investors are responding positively to Rocket Lab USA announcing it will launch 3 demonstration satellites for E-Space, to validate the systems and technology for its satellite system.

The satellites are scheduled for flying as part of a rideshare mission on Rocket Lab’s Electron launch vehicle from Launch Complex 1 Pad A on New Zealand’s Mahia Peninsula expected in the second quarter of 2022.

And E-Space aims to reduce the launch requirements for a full constellation to months instead of years, decreasing the time it takes to scale, replenish or deliver a full system. Plus E-Space’s system aims to allow governments and companies to own private satellite constellations that can dynamically scale in capabilities, with applications ranging from secure communications to managing remote infrastructure, while maintaining a high level of security, flexibility, and resiliency.

KEY QUOTES:

“Our first satellites will provide a demonstration and test platform for our new sustainable satellite system. E-Space will increase the speed for constellation delivery from years to months, allowing new opportunities for more people to access space-based platforms. With the help of Rocket Lab, we are excited to be bringing these satellites into orbit in record time.”

— Greg Wyler, founder and CEO of E-Space

“We’re excited to partner with E-Space on their first mission. Innovation is the key to success in space, and E-Space’s commitment to reducing the time it takes to create a constellation or satellites while maintaining affordability and accessibility falls in line with our own values at Rocket Lab, as we have done with Electron, the leading small launch vehicle. We wish them enormous success in their mission with us.”

— Rocket Lab founder and CEO Peter Beck

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.