Rocket Lab (RKLB) stock extended its surge for a second consecutive trading day on Monday as investors continue buying after the company’s strong quarterly report — and with a SpaceX (SPAX.PVT) IPO on the horizon.

Rocket Lab shares rocketed 30% on Friday on the back of strong first quarter results released after the close on May 7. Monday’s session carried that momentum forward, with the stock jumping another 14%, hitting a new all-time high.

With today’s move, Rocket Lab is up an eye-popping 70% year to date.

Q1 results came against the backdrop of a flurry of new deals. CEO Peter Beck said Rocket Lab booked 31 Electron and HASTE rocket missions during the quarter — the most ever signed in a single quarter — and the company now has more than 70 launches in backlog across those programs.

The company also signed five new dedicated launches for Neutron, its larger rocket. Total backlog reached $2.2 billion, up 20% over the quarter and 108% year over year — the highest it has ever been.

Rocket Lab reported Q1 revenue of $200.3 million, a 63.5% year-over-year increase, on a loss per share of $0.07 versus estimates of $0.08.

Forward guidance was equally impressive, with Q2 revenue projected at $232.5 million at the midpoint, 12% above analysts’ expectations.

Rocket Lab landed a string of recent strategic wins. The company was chosen alongside defense giant RTX to bolster the Defense Department’s Space Based Interceptor program, providing launch and satellite technology in support of President Trump’s Golden Dome missile defense initiative.

Rocket Lab also announced plans to acquire Motiv Space Systems, a robotics firm whose tech has been featured on NASA’s Mars rover missions.

The two-day stock rally comes amid growing investor enthusiasm for the broader space sector — stoked by the highly anticipated SpaceX IPO, which could come as early as this summer.

Rocket Lab is considered the most credible publicly traded pure-play rocket company in the space sector, and with SpaceX targeting an IPO sometime in June 2026, investors have flooded into Rocket Lab and others as a proxy for the broader commercial space opportunity.

Pras Subramanian is the Lead Transportation Reporter for Yahoo Finance. You can follow him on X and on Instagram.

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