Rocket Lab Corporation (NASDAQ:RKLB) shares are trading higher Wednesday after the company was awarded a $266 million firm-fixed-price completion contract for suborbital launch.
- Rocket Lab stock is building positive momentum. Why is RKLB stock trading higher?
The Space Force Contract
The award comes from the U.S. Space Force’s Space Systems Command and covers the launch of 12 suborbital launch vehicles, with an option for six additional launches. Work will be performed at the Pacific Spaceport Complex in Alaska and is expected to be completed by December 31, 2028.
The contract was awarded through a competitive acquisition process, with three offers received. Fiscal 2025 research, development, test, and evaluation funds totaling $112 million are being obligated at the time of the award. The Space Systems Command at Kirtland Air Force Base in Albuquerque, New Mexico, is the contracting activity.
Rocket Lab Shares Edge Higher
RKLB Price Action: At the time of publication, Rocket Lab shares are trading 2.31% higher at $70.72, according to data from Benzinga Pro.
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