Rocket Lab USA Inc. [NASDAQ: RKLB] shares rose 5.82% to $131.37 on Thursday, May 14, reaching a new 52-week high as per Google Finance data, as traders continued to lean into the company’s strong first-quarter earnings report and two new defence contract wins that added further near-term catalysts.

The company reported first-quarter revenue of $200.35 million, representing 63.5% year-over-year growth and beating analyst expectations, while its loss per share of seven cents matched the consensus estimate, with the top-line acceleration and contract volume the primary drivers of the positive market reaction.

During the quarter, Rocket Lab signed 31 new Electron and HASTE launch contracts plus five additional agreements tied to its upcoming Neutron rocket, bringing total contracted backlog to more than $2.2 billion, a record level.

Second-quarter revenue guidance of $225 million to $240 million came in well above the analyst consensus, though the company expects an adjusted EBITDA loss of $20 million to $26 million as it continues to invest heavily in Neutron development and manufacturing expansion.

Two fresh defence-related wins announced this week added to the positive momentum, including a selection to demonstrate capabilities for the US Space Force’s Space Based Interceptor programme alongside Raytheon, and a $30 million contract with Anduril for multiple hypersonic test flights using its HASTE vehicle.

Broader commercial space sentiment has also provided a tailwind, with SpaceX’s planned Starship Version 3 launch on May 19 attracting significant investor attention and generating enthusiasm across the commercial space ecosystem, including names like Rocket Lab.

From a technical standpoint, the RSI has climbed to 75.96, indicating the move is extended and overbought conditions are present, though analysts note overbought readings do not automatically signal an imminent reversal and can persist during strong momentum phases.

The stock is now trading above its prior 52-week high of $127.24, a level that typically flips from resistance to support on any subsequent retest, providing a technical reference point for traders monitoring potential pullbacks.

Cathie Wood’s ARK Invest sold 113,402 RKLB shares on May 9 and another 50,312 shares on April 27, trimming exposure ahead of the stock’s push to all-time highs, though ARK’s historical pattern of selling Rocket Lab into rallies only to see the stock continue climbing has been a recurring dynamic in 2025 and 2026.