Astra room (NASDAQ:ASTR) The stock fell sharply on Monday after the company held a rocket launch over the weekend that didn’t go as planned.
Source: 3Dsculptor / Shutterstock.com
Astra Space attempted to put its LV0006 rocket into orbit when one of the five main engines refused to launch. As a result, the rocket slid to the side before take off and the other engines had to be switched off.
On that failed launch, the rocket only reached an altitude of 164,000 feet before returning to Earth. Even worse is the fact that it carried a US Space Force payload for their space testing program.
Obviously, this is not the result Astra Space was hoping for. ASTR shareholders were not happy with this either, as stocks began to fall during pre-trading this morning.
Let’s see what some ASTR stockholders say about the failed attempt at launch in the end Twitter (NYSE:TWTR).
ASTR Stock Twitter Talk
$ ASTR Monday morning pic.twitter.com/R0uWEvS2lF
– Jared Vennett (@ jared_vennett69) August 28, 2021
This power slide at the start. One of the most unique launches I’ve ever seen $ ASTR pic.twitter.com/saOtcykblg
– Reece (@ReeceLongwell) August 28, 2021
The $ ASTR launch was successful but failed to reach orbit due to an anomaly in flight.
Loading on the Dip! https://t.co/yrOYI6RXRo
– Julius (@InvestorJulius) August 28, 2021
Pointy end not so up? That was a great start. Looked like a bug right after turning off the main engine. Possible failed separation or lost stabilization without thrust. $ ASTR #astra #AdAstra pic.twitter.com/huLVfemLNt
– Michael Cassatt (@MichaelCassatt) August 28, 2021
Astra’s rocket went off the paddle … 🤣 $ ASTR pic.twitter.com/ZDZhegpdx8
– Ryan Geisler (@RyanEGeisler) August 30, 2021
It’s no surprise that ASTR stock has seen strong trading today following this introduction. To date, more than 10 million shares have changed hands. That is well above its daily average trading volume of around 4 million shares.
The ASTR share lost 17.1% on Monday afternoon.
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On the day of publication, William White had no positions (either directly or indirectly) in any of the securities referred to in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s posting guidelines.
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