Why Astra Space Stock Rocketed Today
Space sector start-up company Astra Space (NASDAQ: ASTR) has more than 50 launches under contract, but the latest one it announced today has investors especially excited. The reaction has shares of Astra trading 30% higher as of 2:45 p.m. EDT.
After going public through a merger with a special purpose acquisition company (SPAC) last month, the space company already had plans to be taking customer payloads into low Earth orbit beginning this year. Today, Astra announced it received a multi-launch contract with the Department of Defense's United States Space Force. A window for the first test payload launch begins on Aug. 27, and the contract calls for a second launch later this year. The late August launch will be the first for the company since going public.
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Source Fool.com
