Stock Track | Rocket Lab Soars 5.02% in Night Session on $90M Space Force Contract Win and Shareholder Approval

Stock Track05-22 08:18

Rocket Lab USA, Inc. shares surged 5.02% during night session trading on Thursday, marking a significant 24-hour gain for the launch-and-satellite company.

The sharp upward move followed the announcement that Rocket Lab secured a $90 million contract from the U.S. Space Force's Space Systems Command. The contract is for the design, build, integration, and operation of two geostationary satellites that will host the Heimdall space domain awareness payload, marking the company's first satellite production program for GEO orbit.

Additionally, shareholders approved a subsidiary merger intended to eliminate a pass-through voting provision at the company's annual meeting held earlier in the day. These two positive corporate developments provided a catalyst for the stock's notable intraday recovery and upward momentum.

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