Rocket Lab Stock Is Taking Off After Hours: What's Going On?

-0.56% Pre

Rocket Lab

RKLB

40.69

40.17

-0.56%

-1.28% Pre

Rocket Lab USA Inc (NASDAQ:RKLB) shares are trading higher in Thursday's after-hours session after the company announced a new $515 million contract with a U.S. government customer.

What Happened: In a new regulatory filing, Rocket Lab said it entered into an agreement with a U.S. government customer on Thursday to design, manufacture, deliver and operate 18 space vehicles.

The contract had a total value of $515 million, including a base payment of $489 million and incentives and options worth an additional $26 million.

Rocket Lab said work under the agreement would begin immediately. Delivery of the space vehicles for launch is slated for 2027 and operation of the satellites is set to be active through 2030 with an option to operate through 2033.

See Also: Mixed Q2 Results Send Nike Stock Falling After-Hours: The Details

RKLB Price Action: Rocket Lab shares closed Thursday up 0.45%. The stock was up another 16.70% after hours at $5.17 at the time of publication Thursday, according to Benzinga Pro.

Photo: Courtesy of Rocket Lab.

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.