Launch of a rocket in West Texas
AFP via Getty Images
Astra Space shares continued their fall Friday after the company’s failure to deliver its first commercial payload in orbit wiped 26% off the stock Thursday.
The rocket of the California-based company was carrying four miniature research satellites for NASA, or cube sats, three of them from public universities and one developed by the U.S. space agency itself.
Astra Space (ticker ASTR) was down 2.05% in the premarket Friday.
It went public in July last year after closing a SPAC deal. The stock has fallen by 70% since then, giving the company a $1.4 billion market capitalization.
“We are deeply sorry to our customers @NASA and the small satellite teams,” the company tweeted after the launch’s failure.
Write to Pierre Briançon at [email protected]
