Rocket Lab USA, Inc. (NASDAQ:RKLB) shares are trading higher on Thursday.
In a social media post in X, formerly Twitter, the company stated that, "Today's launch attempt for @KineisIoT experienced a safe on-pad abort at T-0."
The company added that, since the mission required an instantaneous launch, they would be standing down from any further attempts that day.
Rocket Lab had planned to launch five nanosatellites for Kineis, a startup supported by the French space agency, reported Bloomberg. The attempt that was aborted was made in New Zealand.
"The team is assessing opportunities for the next launch attempt and we'll share more information here shortly," Rocket Lab said.
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The company's CEO, Peter Beck, mentioned on X that the abort was caused by ground support equipment failing to meet its target within the allocated time, emphasizing the importance of ensuring that everything on the ground is as well-functioning as everything in the sky.
"We like everything on the ground to be just as happy as everything in the sky," the CEO said.
According to Benzinga Pro, RKLB stock has gained over 52% in the past year. Investors can gain exposure to the stock via Procure Space ETF (NASDAQ:UFO).
The company recently announced that Frank Klein is its new chief operations officer, effective Sept. 16. According to Beck, the company plans to improve the Electron launch schedule, implement Neutron, and strengthen its satellite and space systems divisions.
Price Action: RKLB shares are trading higher by 3.4% to $7.21 at last check Thursday.
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