What's Going On With Rocket Lab Shares Today?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares are trading lower in the premarket session on Wednesday.

The company launched its first Electron mission for 2024, a space-junk-focused mission for Spire Global, Inc. (NYSE:SPIR) and NorthStar Earth & Space.

The mission also returned the rocket’s first stage after launch as part of Rocket Lab’s plan to evolve Electron into a reusable rocket. 

Rocket Lab founder and CEO, Peter Beck, says: “The success of today’s mission to deliver Spire & NorthStar to orbit, and the completion of our secondary mission to return Electron to Earth after launch, has been a fantastic start of what is set to be Rocket Lab’s busiest year ever.”

After launch and stage separation, Electron’s booster returned to Earth under a parachute and splashed down in the Pacific Ocean approximately 17 minutes post lift-off.

“We have more missions booked in 2024 than we’ve ever scheduled before,” Beck added.

Earlier this month, the aerospace and defense company bagged a $515 million deal with the Space Development Agency (SDA) to design and build 18 Tranche 2 Transport Layer-Beta Data Transport Satellites (T2TL – Beta).

The SDA procures satellites in two-year “tranches” to build a proliferated LEO constellation to deliver needed space-based capabilities to the joint warfighter. 

Rocket Lab has a backlog of over 40 satellites in development and production. 

Rocket Lab satellite technology made its way into over 1,700 satellite missions globally.

Read Next: Donald Trump’s Legal Quagmire Deepens, Rudy Giuliani Drops ‘Unpaid Fees’ Bombshell In Bankruptcy Filing

Price Action: RKLB shares are trading lower by 2.81% to $4.85 premarket on the last check Wednesday.