Rocket Lab Corp (NASDAQ: RKLB) shares are trading higher in Monday’s after-hours session after the company announced a multi-launch contract with Synspective.
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What Happened: Rocket Lab said it secured a second multi-launch contract with Synspective, a Synthetic Aperture Radar (SAR) satellite data and analytics company from Japan. The new contract is for an additional 10 launches, bringing the total number of upcoming missions to 21.
“Regular and reliable launch on a flexible schedule is essential to the build out of Synspective’s constellation, and Electron has been integral to this from the start as the sole launcher of all StriX satellites in space today. It’s an honor to add another 10 StriX satellites to Electron’s launch manifest and continue our long-standing partnership with Synspective,” said Peter Beck, founder and CEO of Rocket Lab.
Rocket Lab has been Synspective’s sole launch provider, successfully deploying six satellites for the company. The next 21 Synspective launches will take place through the end of the decade.
RKLB Price Action: Rocket Lab shares were up 1.15% in after-hours, trading at $47.55 at the time of publication on Monday, according to Benzinga Pro.
Rocket Lab stock shows strong momentum with recent highs pushing against resistance levels. Support is solid at $46.37, which aligns with recent lows, providing a clear floor for price action. Benzinga Edge rankings show a strong momentum score of 98.42.
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