Why Astra Space Stock Just Dropped 10%
Five days after completing its special purpose acquisition company (SPAC) IPO and becoming one of the first private space companies to become a publicly traded space company last week, Astra Space (NASDAQ: ASTR) is seeing gravity reassert its hold over the company's share price today.
After leaping nearly 22% (at one point) on July 1, the day of its IPO, and continuing to rise into the holiday weekend, Astra shares are falling now -- down about 9.5% as of 12:30 p.m. EDT on Tuesday.
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Source Fool.com
