Rocket Lab Corp (NASDAQ:RKLB) shares are trending. The company on Tuesday announced that it completed its acquisition of Geost.
What Happened: Rocket Lab said it completed its acquisition of electro-optical and infrared (EO/IR) payload development and manufacturing company Geost for $275 million in cash and stock.
The acquisition boosts the company’s positioning as a prime contractor for next-generation defense initiatives like the proposed Golden Dome architecture and the Space Development Agency's proliferated warfighter space architecture. The companies plan to work together to boost high-volume production, making EO/IR technologies available at scale.
“Being able to quickly build and deploy entire satellite systems is the cornerstone of future U.S. defense strategy, and with this acquisition, we’re accelerating the delivery of mission critical payloads that support U.S. national security projects,” said Peter Beck, founder and CEO of Rocket Lab.
“This acquisition strengthens our role in building the resilient, responsive space architecture envisioned under Golden Dome, combining Geost’s proven sensing technologies with Rocket Lab’s ability to scale fast, secure, and integrated space solutions.”
The update comes after Rocket Lab reported second-quarter financial results last week and said it’s confident the company’s strategic investments will drive new growth opportunities and propel Rocket Lab toward long-term profitability.
Rocket Lab’s total revenue was up 36% year-over-year after the company successfully launched five Electron missions in the second quarter. The company guided for third-quarter revenue of $145 million to $155 million versus estimates of $148.9 million.
How To Buy RKLB Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Rocket Lab's case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
RKLB Price Action: Rocket Lab shares were up as much as 4% in early trading Tuesday before pulling back. The stock was down 1.47% at $44.36 at the time of publication, according to Benzinga Pro.
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Photo: courtesy of Rocket Lab.
