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    Astra stock surges after rocket builders reach orbit

    The company’s rocket LV0007 took off from the Pacific Paceport Complex in Kodiak, Alaska on November 20, 2021.

    Astra

    Rocket builder share Astra After the company got off to a good start on the weekend, it surged in trading on Monday.

    The company’s rocket, LV0007, was launched Saturday from the Pacific Paceport Complex in Kodiak, Alaska, and carries a US Space Force test payload.

    “It was really hard to get going. Only Astra and a few other companies have done this,” Astra CEO Chris Kemp told reporters Monday.

    “We are currently focusing on delivering to our customers and expanding the rhythm of system production and launch,” Kemp added.

    Astra shares surged 42% from the previous close of $ 9.53. With an unusually large amount of trading, stock prices have been trading between 30% and 40% since they hit highs.

    With this launch, Astra will be the latest in a small group of US companies to join SpaceX and reach orbit with a privately funded rocket. Rocket Lab When Virgin Orbit..

    The company’s rocket is 43 feet high and fits into the small rocket segment of the launch market. Kemp said the Rocket 3.3 variation could carry a payload of about 50 kilograms in low earth orbit, and the planned Rocket 4.0 version is expected to increase its capacity. Astra’s goal is to launch one rocket a day by 2025, reducing the price by $ 2.5 million.

    Astra was released earlier this year After completing the SPAC merger, the company will raise funds Build that little rocket production, expansion Facility in Alameda, California, And grow its spacecraft and spaceport business lines.

    The successful launch of the LV0007 “suggests less attention” to further changes to the Rocket 3.3 variation, Kemp said. According to Kemp, the company will share the schedule for its next launch “earlier” and the LV0008 vehicle will soon be integrated into the mission.

    Astra stock surges after rocket builders reach orbit

    Source link Astra stock surges after rocket builders reach orbit

    The post Astra stock surges after rocket builders reach orbit appeared first on Eminetra.

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