What's Going On With Rocket Lab Shares Today?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares are trading lower on Tuesday.

According to Benzinga Pro, RKLB stock has lost over 6% in the past year. Investors can gain exposure to the stock via Procure Space ETF (NASDAQ:UFO) and SPDR S&P Kensho Final Frontiers ETF (NYSE:ROKT).

The company has announced the launch window for its 53rd Electron mission, scheduled to begin on September 17, 2024, NZST. This mission, named ‘Kinéis Killed the RadIOT Star,’ will be the second of five dedicated launches for Kinéis, a French company focused on global IoT connectivity.

The launch will take place from Rocket Lab Launch Complex 1 in Mahia, New Zealand, and will follow Kinéis’ first Electron launch, ‘No Time Toulouse,’ which occurred three months prior. This mission aims to deploy five new satellites as part of Kinéis’ plan to enhance its constellation and expand IoT capabilities globally.

Also Read: NASA Escorted Rocket Lab CEO Off Its Premises In 2006 — He Then Drew A Logo On A Napkin And Launched His Own Multi-Billion Dollar Space Business

Kinéis’ constellation, backed by the French space agency CNES and CLS, is designed to offer global connectivity for various applications, including ship tracking and environmental monitoring. The tailored mission parameters of this launch will allow for precise satellite deployment and orbital adjustments, essential for Kinéis’ operational needs.

Rocket Lab’s founder and CEO, Sir Peter Beck, emphasized the importance of dedicated launches for accurate orbital placement, while Alexandre Tisserant, Chairman of Kinéis, praised Rocket Lab’s contribution to their successful satellite deployments.

The upcoming mission highlights Rocket Lab’s ongoing role in advancing space-based connectivity solutions and Kinéis’ commitment to expanding global IoT infrastructure.

Price Action: RKLB shares are trading lower by 2.74% to $6.099 at the last check Tuesday.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.