Why Shares Of Astra Space Are Trading Lower

Astra Space, Inc. ASTR shares are trading lower after the company failed to deliver NASA payloads to orbit.

Viewers of video streaming live from the rocket saw what appeared to be the start of some tumbling before the feed was abruptly cut off. NASA's California-based commercial rocket-making partner Astra confirmed that the upper stage had shut down early, dooming the payload to a considerably earlier than planned rendezvous with Earth.

Astra tweeted after the incident “We had a nominal first stage flight. The upper stage shut down early and we did not deliver the payloads to orbit. We have shared our regrets with @NASA and the payload team.”

Astra’s mission is to improve life on Earth from space by creating a healthier and more connected planet. Today, Astra offers one of the lowest cost-per-launch dedicated orbital launch services of any operational launch provider in the world.

The stock was trading about 23% lower at $1.55 per share on Monday at the time of publication.