Rocket Lab Corp (NASDAQ:RKLB) shares are jumping in extended trading Tuesday after the company was awarded a $266 million defense contract for suborbital launch.
- Rocket Lab stock is surging. Why are RKLB shares rallying?
Rocket Lab Awarded Suborbital Launch Contract
Rocket Lab has been awarded a $266 million firm-fixed-price completion contract for suborbital launch from the U.S. Space Force’s Space Systems Command.
The contract covers the launch of 12 suborbital launch vehicles, with six optional additional launches. Work will be performed at the Pacific Spaceport Complex in Alaska and is expected to be completed by Dec. 31, 2028.
The award was a competitive acquisition, 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.
RKLB Shares Rise After The Close
RKLB Price Action: Rocket Lab shares were up 5.89% in after-hours, trading at $73.19 at the time of publication on Tuesday, according to Benzinga Pro.
Photo: courtesy of Rocket Lab.
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