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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.
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