- The company confirmed there was an issue mid-flight that prevented the rocket from delivering a set of four cube satellites to orbit on a NASA-funded mission.
- The Nasdaq halted the stock for volatility at 3:05 p.m. ET, as the upper stage of the rocket appeared to be tumbling out of control on the company’s webcast.
Shares of rocket builder Astra fell sharply Thursday, after the company’s latest mission failed to reach orbit.
Astra’s stock fell 26% to close at $3.91 a share.
The company confirmed there was an issue mid-flight that prevented the rocket from delivering a set of four cube satellites to orbit on a NASA-funded mission.
“I’m deeply sorry we were not able to deliver our customer’s payloads. I’m with the team looking at data, and we will provide more info as soon as we can,” Astra CEO Chris Kemp said in a tweet.
The Nasdaq halted the stock down 5% at 3:05 p.m. ET, as the upper stage of the rocket appeared to be tumbling out of control on the company’s webcast of the launch.
Shares reopened briefly for trading and dropped 32% before being halted again at 3:37 p.m. ET, and then reopened a second time — recovering slightly.
The NASA mission marked Astra’s first launch from Florida’s Cape Canaveral. The company reached orbit for the first time three months ago with its LV0007 rocket, launched from Kodiak, Alaska.
Source: Business - cnbc.com
