“Astra stock surges 30% after the rocket builder reached orbit successfully”
November 22, 2021
“…Astra stock jumped as much as 42% in trading from its previous close of $9.53. With unusually heavy trading volume, the stock is trading anywhere from 30% to 40% since hitting the high. Indeed, it was trading about 31% higher around 10:00 a.m. ET. The launch makes Astra the latest among a small group of U.S companies to reach orbit with a privately-funded rocket, joining SpaceX, Rocket Lab, and Virgin Orbit.
The company’s rocket is 43 feet tall and fits in the small rocket segment of the launch market. Kemp noted that its Rocket 3.3 variation can carry about 50 kilograms of payload to low Earth orbit, with its planned Rocket 4.0 version expected to increase that capacity. Astra’s goal is to eventually launch as many of its small rockets as it can, aiming to launch one rocket a day by 2025 and drop its $2.5 million price point even further….”