Astra Plunges Over 20% After Rocket Launch Failure

Source: CNBC

Shares of aerospace firm Astra posted a steep decline on Monday following the failure of its rocket launch carrying NASA satellites. ASTR is down 24.75%, while SPCE is down 8.95%.

• Stock prices of the firm recorded a decline of as high as 25% from its previous close of $2.02.
• The decline comes after its rocket LV0010 took off from Cape Canaveral in Florida, ferrying two satellites on NASA’s TROPICS-1 mission.
• The first portion pushed through as planned, but an engine shut down early and caused the failure of satellite deployment.
• Astra said it is now reviewing flight data to determine the cause of what it described as an anomaly.
• Chief Executive Officer Chris Kemp said NASA will need to have four of the six planned satellites in orbit for it to be deemed successful.