US Stock Market Move | Space concept stocks opened higher Rocket Lab (RKLB.US) rose nearly 7%

On Thursday, space concept stocks opened higher, with Rocket Lab (RKLB.US) up nearly 7%, AST SpaceMobile (ASTS.US) up nearly 5%, Boeing Company (BA.US) up nearly 4%, and SpaceX (SPCX.US) up nearly 2%. In terms of news, Rocket Lab recently announced that it will acquire satellite communications service provider Iridium Communications Inc. (IRDM.US) in a cash and stock deal, with a total transaction value of about $8 billion. This move marks one of the largest consolidation actions in the commercial space industry in recent years. Rocket Lab stated that the goal of this acquisition is to create a comprehensive space enterprise with vertical integration capability, capable of independently designing, manufacturing, launching, and operating constellation systems to provide critical communication services to millions of users worldwide.