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Benzinga
Benzinga
Business
Surbhi Jain

Rocket Lab Rallies as SpaceX Slides. Wall Street Is Rewarding Execution Again

X Rocket Lab SpaceX RKLB Space Exploration Technologies Corp IPO Missile HASTE
Cape,Canaveral,,Fl,,Usa,-,December,28,,2023:,Spacex,Falcon

Rocket Lab Corp (NASDAQ:RKLB) shares climbed Monday after the company secured its largest missile defense launch contract to date, while Space Exploration Technologies Corp. (NASDAQ:SPCX) stock continued its post-IPO slide, underscoring what investors appear to be rewarding in the space sector: tangible execution over future promise.

Rocket Lab stock rose more than 2% after announcing a $266 million U.S. Space Force contract for up to 18 HASTE suborbital launches supporting missile defense testing. At the same time, SpaceX stock fell nearly 4% to around $110.61, leaving the stock about 18% below its $135 IPO price and roughly 51% below its post-IPO high.

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