What happened: Rocket Lab (RKLB) stock jumped more than 25% Friday, hitting its first intraday record high since January and underscoring how space stocks are back on Wall Street’s radar.
What’s behind the move: The space company reported stronger-than-expected Q1 quarterly revenue and gave an upbeat forecast for the current quarter. Rocket Lab also announced its biggest launch deal yet, covering multiple Neutron and Electron launches between 2026 and 2029, along with a $30 million Anduril contract for three HASTE hypersonic test launches.
By the numbers: Rocket Lab is up over 70% since its March 30 low, second in the peer group behind BlackSky Technology (BKSY) by a small margin. It has added roughly $24 billion in market value over that stretch — more than every name in the space cohort except Boeing (BA), which is over three times larger by market cap and a more diversified company.
What else you need to know: The move is part of a broader bid for newer space names. Intuitive Machines (LUNR), Redwire (RDW), BlackSky, and Satellogic (SATL) also rallied Friday, while old-line defense names like Northrop Grumman (NOC) and Lockheed Martin (LMT) lagged.
Jared Blikre is the global markets and data editor for Yahoo Finance. Follow him on X at @SPYJared or email him at jaredblikre@yahooinc.com.
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