Stock Story -
What Happened: Shares of aerospace and defense company Rocket Lab (NASDAQCM:RKLB) jumped 19.3% in the morning session after the company announced that it had successfully launched and shipped two Mars-bound spacecraft to Cape Canaveral for the ESCAPADE heliophysics mission. The spacecraft was designed for NASA and UC Berkeley to measure plasma and magnetic fields around Mars as part of efforts to study the planet's climate evolution. The announcement highlights the company's technical prowess and ability to win and execute similar contracts that should be accretive to its business.
Is now the time to buy Rocket Lab? Find out by reading the original article on StockStory, it’s free.
What is the market telling us: Rocket Lab’s shares are very volatile and over the last year have had 32 moves greater than 5%. But moves this big are very rare even for Rocket Lab and that is indicating to us that this news had a significant impact on the market’s perception of the business.
The previous big move we wrote about was 7 days ago, when the stock gained 14.9% on the news that the company reported second quarter earnings results. Rocket Lab blew past analysts' EPS expectations this quarter.
On the other hand, its revenue guidance for next quarter missed, and its EBITDA guidance for next quarter fell short of Wall Street's estimates. The market seems to be looking past the weaker guidance, and the stock is up as a result.
Rocket Lab is up 27.7% since the beginning of the year, and at $6.80 per share, has set a new 52-week high.
![Rocket Lab (RKLB) Shares Skyrocket, What You Need To Know](https://d68-invdn-com.investing.com/content/picb209623a04e1caaae6b757100560bd0a.jpeg)