Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now
News

Astra Space Shares Plunges Nearly 25% After Its Second Rocket Failure This Year

0
Astra Space Shares

Astra shares sank 25% after the rocket-builder’s weekend launch carrying NASA satellites failed to reach the orbit.

Source: CNBC

ASTR down 24.50%, SPCE down -7.92%

Astra’s rocket LVOO100 took off on Sunday from launch complex 46 at Cape Canaveral in Florida, ferrying two satellites on NASA’s TROPICS-1 mission.

The first phase of the mission progressed as planned, but the engine on the upper segment of the rocket failed early, and the company was unable to deploy the satellites.

Astra stated that they are reviewing flight data to identify the major cause of this anomaly and will provide extra information when it is available.

The TROPICS-1 mission marks the company’s second mission failure in three launches in 2022.

Astra listed its IPO last year after completing a SPAC merger, raising finances to produce its small rocks, expand its facilities in California, and expand its spacecraft and spaceport business lines.

fxcoach

AST SpaceMobile to Launch BlueWalker3 Satellite by August 15

Previous article

Crypto Investors Withdraw Over $100M on Anticipated Interest Rates Hikes

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in News