Rocket Lab USA, Inc. (RKLB) shares are on the rise in premarket trading on Monday, fueled by the company’s successful launch of its 53rd Electron mission. On Friday, Rocket Lab successfully deployed five satellites into Low Earth Orbit for Kinéis, a French Internet-of-Things (IoT) company. This launch marked the second of five dedicated Electron missions for Kinéis, supported by a consortium of private and public investors, including the French space agency CNES and CLS. The goal of these missions is to enhance global IoT connectivity, connecting even the most remote areas of the world.
The “Kinéis Killed the RadIOT Star” mission launched from Rocket Lab Launch Complex 1 in Mahia, New Zealand, at 11:01 a.m. NZST on September 21 (23:01 UTC, September 20). The mission successfully deployed the five satellites into a 643 km orbit.
Rocket Lab founder and CEO Sir Peter Beck expressed his enthusiasm for the successful launch, stating, “Today’s successful launch marks another milestone for Rocket Lab as we continue to enable innovative companies like Kinéis to push the boundaries of global IoT connectivity. With each mission, we are bringing the world closer together, allowing vital data to be transmitted from the remotest corners of the Earth.”
This successful launch comes on the heels of other notable developments for Rocket Lab. Earlier this month, the company announced the appointment of Frank Klein as its new Chief Operations Officer, effective September 16th, 2024.
According to Benzinga Pro, RKLB stock has enjoyed a significant surge in value over the past year, gaining 71%. Investors interested in gaining exposure to the stock can explore the Procure Space ETF (UFO) and the SPDR S&P Kensho Final Frontiers ETF (ROKT).
As of Monday’s premarket trading, RKLB shares were up 0.67% at $7.52.
This successful launch and continued momentum highlight Rocket Lab’s growing role in the space industry and its commitment to expanding global connectivity through innovative satellite technology.
