All articles tagged with #rocket companies
China has introduced a fast-track process for initial public offerings (IPOs) for rocket companies, aiming to challenge SpaceX and boost its space industry sector.
The 'DORK' meme stock rally, involving Krispy Kreme, Opendoor, Rocket Companies, and Kohl's, has collapsed, resulting in a $13.1 billion loss for investors as these stocks have fallen more than half from their 52-week highs, highlighting the risks of speculative trading based on short interest and meme trends.
Rocket Companies, the parent company of Rocket Mortgage, has named Varun Krishna, a veteran of the financial technology industry, as its new CEO. Krishna, who has over 20 years of experience in executive roles at Intuit and PayPal, will also serve as CEO of Rocket Mortgage. He will replace interim CEO Bill Emerson and work alongside president and COO Emerson. The appointment comes as Rocket aims to leverage its comprehensive ecosystem, renowned technology, and strong brand to drive future success and create long-term value for stakeholders.
The US Space Force is expanding its competition for mission contracts, planning to buy more rocket launches than previously expected. Under the National Security Space Launch (NSSL) Phase 3 program, the Space Force aims to almost triple the number of launches it bought in Phase 2, estimating 90 missions. The program has been split into two groups, with Lane 1 allowing companies to compete as rockets debut and Lane 2 selecting companies for missions with the most demanding requirements. The Space Force has made adjustments to Phase 3, including adding more missions, introducing a price cap, and expanding Lane 2 to three companies.
Ashlee Vance's new book, "When the Heavens Went on Sale," profiles four companies in the commercial space race: Planet Labs, Rocket Lab, Astra, and Firefly Aerospace. Vance believes that SpaceX and Rocket Lab are currently the dominant players in the industry, but there may be room for competition if Rocket Lab can build a bigger rocket before SpaceX's Starship launch system is completed. Vance also discusses the potential for a retrenching in the industry and the question of how many rockets will be needed to meet the demand for launching satellites.