Astra Space (NASDAQ:ASTR) stock is falling hard on Monday after the company held a rocket launch over the weekend that didn’t go as planned.
Astra Space was attempting to launch its LV0006 rocket into orbit when one of the main five engines refused to start. As a result, the rocket slid sideways before taking off, and the other engines had to be shut off.
This failed launch only saw the rocket get to 164,000 feet before coming back down to Earth. Even worse is the fact that it was carrying a payload from the U.S. Space Force for its Space Test Program.
Obviously, this isn’t the outcome that Astra Space was hoping for. ASTR shareholders weren’t happy with it either as shares started to plummet during pre-market trading this morning.
Let’s see what some shareholders in ASTR stock are saying about the failed launch attempt over on Twitter (NYSE:TWTR).
ASTR Stock Twitter Talk
— Jared Vennett (@jared_vennett69) August 28, 2021
— Reece (@ReeceLongwell) August 28, 2021
$ASTR launch was successful, but it did not achieve orbit due to an anomaly during flight.
Will be loading up on the dip! https://t.co/yrOYI6RXRo
— Julius (@InvestorJulius) August 28, 2021
Pointy end not so up? That was one heck of a liftoff. Looked like a failure right after main engine shut off. Possible failed separation or lost stabilization without being under thrust. $ASTR #astra #AdAstra pic.twitter.com/huLVfemLNt
— Michael Cassatt (@MichaelCassatt) August 28, 2021
— Ryan Geisler (@RyanEGeisler) August 30, 2021
It comes as no surprise that ASTR stock is seeing heavy trading today after that launch. As of this writing, more than 10 million shares of the stock have changed hands. That’s well above its daily average trading volume of about 4 million shares.
ASTR stock was down 17.1% as of Monday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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