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World NewsAstra stock drops after NASA mission fails mid-launch

Astra stock drops after NASA mission fails mid-launch

Shares of rocket builder Astra fell sharply Thursday, after the corporate’s newest mission failed to achieve orbit.

Astra’s stock fell 5% from its earlier shut of $5.29 a share earlier than being halted for volatility.

Cameras onboard the corporate’s LV0008 rocket reveals the higher stage separating and igniting, earlier than showing to tumble uncontrolled mid-flight.

Astra / NASASpaceflight

The firm confirmed there was a problem mid-flight that prevented the rocket from delivering a set of 4 dice 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 mentioned in a tweet.

The New York Stock Exchange halted the stock at 3:05 p.m. ET, because the higher stage of the rocket gave the impression to be tumbling uncontrolled on the corporate’s webcast of the launch.

The NASA mission marked¬†Astra’s first launch from Florida’s Cape Canaveral. The firm¬†reached orbit for the primary time three months in the past with its LV0007 rocket, launched from Kodiak, Alaska.

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