Rocket Lab Stock Up 4% after Launching First Space Mission on US Soil

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Rocket Lab Stock Up 4% after Launching First Space Mission on US Soil

American space and rocket engineering firm, Rocket Lab USA Inc (NASDAQ: RKLB) is seeing impressive growth in its stock price after it successfully completed its first space mission on US soil. As reported by Reuters, the launch took place on Tuesday from the firm’s new launch pad at the NASA-operated Wallops Flight Facility on Wallops Island, Virginia.

The company made use of its flagship Electron Rocket, a 40-foot tall rocket that is replaceable. The company’s Virginia mission was initiated to help radio-frequency analytics firm Hawkeye 360 in deploying three of its satellites to low earth orbit.

Space missions are not a regular engineering and logistics adventure and it takes years of planning on both the part of the company as well as regulators involved. While there are dominant figures in space including SpaceX and Blue Origin amongst others, the space industry has seen the proliferation of companies with a different tilt and solution to existing ones.

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Rocket Lab Stock Up 4% after Launching First Space Mission on US Soil