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Astra Plunges Over 20% After Rocket Launch Failure

June 13, 2022 by Forex Winner Leave a Comment

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.

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