Rocket Lab Secures Major Defense Contract, $2.7 Billion Market Cap Vanishes in a Day

Rocket Lab Corporation (NASDAQ: RKLB) closed at $72.03 on February 10, down 5.05%, erasing roughly $1.85 billion in market capitalization—about ₩2.7 trillion—in a single day. Trading volume reached approximately 9.64 million shares, suggesting concentrated profit-taking after the recent rally.

Earlier, Rocket Lab secured a contract valued at about $816 million (roughly ₩1.2 trillion) from the U.S. Space Development Agency (SDA) to provide missile-tracking satellites, elevating its profile as a leading defense-space stock and driving its share price to record highs. However, a rupture occurred during a hydraulic pressure test on the Neutron first-stage tank at the end of January, reigniting concerns over development schedule risks. The company has announced it will provide an update on the Neutron timeline when it reports fourth-quarter and full-year 2025 results on February 26.

Headquartered in Long Beach, California, Rocket Lab is a space launch and satellite systems company serving commercial, government, and defense customers with its Electron small launch vehicle, the hypersonic testbed HASTE, and the under-development Neutron medium-class reusable rocket. With 21 consecutive successful Electron launches in 2025 alone, Rocket Lab has cemented its position in the small launch market. By reinforcing vertical integration—from satellite manufacturing to payload development—it has earned the nickname “Mini SpaceX” among investors, commanding both high valuations and significant volatility.