Rocket Lab USA, Inc. (RKLB) shares are trading higher on Thursday despite a setback during a planned launch. The company announced on X (formerly Twitter) that a safe on-pad abort occurred at T-0 for the launch of five nanosatellites for Kineis, a startup supported by the French space agency. The launch was scheduled to take place in New Zealand.
The mission required an instantaneous launch, which prompted Rocket Lab to stand down from any further attempts that day. CEO Peter Beck explained on X that the abort was caused by ground support equipment failing to meet its target within the allocated time. He emphasized the importance of ensuring everything on the ground functions flawlessly, saying, “We like everything on the ground to be just as happy as everything in the sky.”
Rocket Lab is currently assessing opportunities for the next launch attempt and will provide further updates shortly.
Despite the setback, RKLB stock has seen a significant increase in the past year, gaining over 52%. Investors interested in the space industry can also explore the Procure Space ETF (UFO) to gain exposure to the company.
Rocket Lab recently announced that Frank Klein will be joining the company as its new chief operations officer, effective September 16th. Under Klein’s leadership, the company plans to improve the Electron launch schedule, implement the Neutron launch vehicle, and strengthen its satellite and space systems divisions.
As of Thursday’s close, RKLB shares are trading 3.4% higher at $7.21.
