Today, Astra Space (NASDAQ:ASTR) has continued its recent ascent higher. Over the past five trading days, ASTR stock has moved higher in a volatile, yet somewhat consistent fashion.
Indeed, it appears investor sentiment around space stocks is finally starting to turn around. A sector that has been beaten down significantly since the summer, Astra Space has not been immune to these sector-specific moves.
Astra is a company that only went public via a reverse special purpose acquisition company (SPAC) merger in July. Since then, shares have ballooned from the initial public offering (IPO) price of $10 per share to more than $15 per share in July. However, recent declines have brought ASTR stock to as low as $7.32 per share.
Today, Astra Space has found stability once again around its SPAC IPO price. It appears investors are growing more bullish on this company and this sector. Let’s dive into what may be driving this enthusiasm today.
Upcoming Launch Providing Momentum for ASTR Stock
As we pointed out earlier this month, Astra Space does have an upcoming catalyst investors are watching.
This Wednesday, Oct. 27, Astra Space will mark the first day of two launch windows for Astra’s launch of a commercial orbital launch for the U.S. Space Force. The two launch windows have been identified as Oct. 27 to Oct. 31 and Nov. 5 to Nov. 12.
Investors will be watching this upcoming launch closely for various reasons. Top of mind for most investors in ASTR stock is the company’s previous engine abort of a launch this summer. Since then, Astra Space stock has been on quite the downward trajectory. A perfectly executed launch could change that narrative really quickly.
Accordingly, it appears ASTR stock is one that falls into the high-risk, high-reward category right now. Aggressive investors looking to put some funny money to work in this stock may be well-rewarded doing so. However, this is a stock investors will likely have to monitor closely in the coming weeks.
On the date of publication, Chris MacDonald 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.
