Rocket Lab Shares Rise 8.6% After Deploying Satellites

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Rocket Lab Shares Rise 8.6% After Deploying Satellites

Dow Jones2023-07-18

By Ben Glickman

Shares of Rocket Lab USA rose Tuesday after the company successfully launched seven satellites and recovered a rocket booster.

The stock was up 8.6% to $7.48 in mid-morning trading. Shares have nearly doubled so far this year.

The Long Beach, Calif.-based company said it had successfully completed its seventh launch this year, sending seven satellites for NASA, Space Flight Laboratory and Spire Global into space from New Zealand.

The space launch company also said it had recovered the first stage booster from the launch, part of Rocket Lab's program to make reusable rockets. Rocket Lab said it would analyze the stage in its production facility.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

July 18, 2023 11:19 ET (15:19 GMT)

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