Rocket Lab Corporation (RKLB) saw its stock price climb significantly after being awarded a contract by NASA for three Electron rocket launches. The contract includes two back-to-back launches for the PolSIR (Polarized Submillimeter Ice-cloud Radiometer) mission, scheduled no earlier than June 2027, and one launch for the TSIS-2 (Total and Spectral Solar Irradiance Sensor-2) mission, set for early 2027. This news led to Rocket Lab shares rising 5.59% in after-hours trading, reaching $85.20.
The PolSIR mission aims to study high-altitude ice clouds to improve weather predictions, while TSIS-2 will measure the Sun's energy input to Earth, aiding in ozone layer recovery predictions and air quality forecasts. NASA cited Rocket Lab's extensive flight heritage of over 90 launches, the Electron's precise orbital deployment, and the company's ability to meet tight schedules as key factors in its selection. Rocket Lab's CEO, Sir Peter Beck, highlighted the Electron's reliability and on-demand launch capabilities.
This new contract adds to Rocket Lab's growing backlog, which now exceeds $2 billion, encompassing over 70 missions for its Electron program. The company is also slated to launch NASA's Aspera astrophysics mission and its own Photon spacecraft for NASA's LOXSAT mission later this year, which will demonstrate in-space refueling technologies. Analysts view these consistent contract wins, especially from government agencies like NASA, as crucial for Rocket Lab's growth and its position as a leading alternative to larger launch providers.
In contrast to Rocket Lab's gains, other tech-related stocks experienced volatility. SpaceX shares, for instance, ended higher on Tuesday after a three-day selloff that had wiped out over $600 billion from its market value. The stock gained 1% to close at $156.11, following a choppy session. This volatility within the tech sector was attributed to a broader selloff in technology and high-momentum stocks, driven by concerns sparked by a decline in Korean chipmakers and fears about the rally in AI-related companies.
