Rocket Lab’s stock sets 14% weekly gain after flurry of launch deals

Rocket Lab Shares are up 14% this week as the aerospace company signs new launch deals in the booming space technology industry.

The stock was flat on Friday, but shares are up nearly 40% in the past two weeks and traded near new highs on Friday.

Shares are up more than 150 percent this year.

On Friday, the company said: secured two launches It is planned to be held in December with the Japan Aerospace Exploration Agency and in 2026.

Earlier in the week, Rocket Lab announced a multi-launch deal with the Japanese space startup Q-shu Pioneers of Space. This is in addition to four contract roles.

Late last month, the company also secured 10 additional launch missions. synspectiveIt brings its total number of connections with the Japanese satellite company to 21. the first one was planned for later this month.

Rocket Lab’s extreme stock movement could also be a result of some short positions, which occur when short sellers purchase a security to cover a position and reduce losses. Short interest accounted for about 14% of Rocket Lab’s float at the end of September.

Investors have poured more money into the space sector this year as the government green-lights more contracts and financing.

The space sector, currently dominated by billionaire-backed ventures such as Elon Musk’s SpaceX, has also seen a wave of similar initial public offerings this year. Firefly AviationVoyager Technologies and Karman Holdings.