Why Rocket Lab Stock Just Jumped

Rocket Lab (RKLB) stock jumped Friday after its 92nd successful Electron rocket launch, delivering a satellite for a Japanese Earth-imaging company.

A $397 million U.S. Space Force contract to build, launch, and operate a constellation of missile-tracking satellites.

Rocket Lab Corporation (NASDAQ: RKLB) jumped 9.5% on Friday. The S&P 500 and the Nasdaq Composite were up 0.6% and 1.2%, respectively.

Shares of the rocket and satellite manufacturer were lifted by another successful Electron mission, a day after the company announced a new $397 million U.S. Space Force award.

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Rocket Lab launched an Electron rocket -- its current workhorse -- from its Complex 1 site in New Zealand at 9:18 p.m. local time Thursday, carrying a single satellite for a Japanese operator of Earth-imaging satellites. The payload was placed in orbit to join the customer's existing imaging constellation.

That was the 92nd Electron flight since the rocket debuted. Rocket Lab has another 10 dedicated missions booked for the customer before 2030.

The Electron launch was icing on the cake, however. The real story is the company's latest Space Force contract . Rocket Lab was selected for the Space-Based Airborne Moving Target Indicator (SB-AMTI) program and will build, launch, and run a constellation of flat satellites. It recieves $397 million for the project.