Rocket Lab ( RKLB 2.90%) stock started Monday strong as its shares gained nearly 6% on news of a successful end-of-year rocket launch, putting another Synspective synthetic aperture radar (SAR) satellite in Low Earth Orbit. The space stock retraced quickly and, as of 11 a.m. ET, all the gains had been erased, with the stock up only 0.1%.

USA announced it successfully completed the company’s 16th launch for the year, deploying a satellite for Japanese Earth-observation constellation operator Synspective. “Rocket Lab launched 16 missions in 2024,

Rocket Lab USA, Inc. (NASDAQ: RKLB) shares rise after completing 16th launch of 2021, deploying satellite for Synspective. 100% mission success rate.

Rocket Lab launched 16 missions in 2024, besting the company’s previous annual launch record of 10 missions achieved in 2023. It was its fourth launch in four weeks and maintained a record of 100% mission success for all launches in 2024.