Why Rocket Lab USA Stock Soared 55.2% Higher in September
Shares of Rocket Lab USA (NASDAQ: RKLB) increased 55.2% higher in September, according to data provided by S&P Global Market Intelligence. During the month, it brought in an industry veteran to help it scale up its manufacturing to meet the growing demand for space launches; it also made its 11th launch of the year in September.
In September, Rocket Lab USA hired Frank Klein as its new chief operations officer. Klein has worked in the automotive industry for three decades, the last 27 of which were at Daimler AG (now Mercedes-Benz Group). He has held many roles, but most recently, he was the vice president of Mercedes-Benz Vans Operations.
Rocket Lab brought on Klein to help it scale the manufacturing of its spacecraft, launch vehicles, and spacecraft components to meet growing customer demand and help Rocket Lab work through its backlog of customer orders.
Source Fool.com
