Rocket Lab (RKLB +9.46%) stock took flight on Friday, climbing as much as 10%. As of 3:10 p.m. ET, the stock was still up 8.1%.
The catalyst that sent the rocket specialist higher was news of its latest successful flight.
Image source: The Motley Fool.
The final frontier
In a press release that dropped late Thursday, Rocket Lab announced its 13th successful Electron rocket launch in 2026. The mission deployed the latest satellite into space for the company's multi-launch customer, Institute for Q-shu Pioneers of Space (iQPS), which operates the QPS-SAR Earth-imaging constellation.
This was the latest successful launch for iQPS, whose satellite constellation provides "near-real imagery across twelve different orbits." The company noted that iQPS has an additional 10 launches booked with Rocket Lab to complete its satellite constellation ahead of its 2030 deadline. This also marked the 92nd mission for the Electron rocket as Rocket Lab pursues its goal of becoming an end-to-end space company.
NASDAQ: RKLB
Key Data Points
The announcement comes just days after Rocket Lab won a $397 million contract with the U.S. Space Force to develop, launch, and operate multiple advanced "Flatellites," a series of next-generation satellites, designed to detect and track airborne threats in real time. This could be the first of many more such contracts.
Rocket Lab stock has been volatile in recent months, riding the wave of excitement related to the Space Exploration Technologies -- aka SpaceX -- IPO. In the run-up to SpaceX's public debut, Rocket Lab stock surged 115% during the first five months of 2026, only to plunge as much as 61% in the months that followed. Despite the volatility, Rocket Lab stock is still up 86% over the past year.
That volatility is sure to continue, as it's still early days in the current "space race." At 66 times sales, Rocket Lab Stock is pricey, but it's also cheap compared to SpaceX, which sells for 82 times sales. Moreover, as the space economy heats up, the sky's the limit for Rocket Lab.
