Astra Space, the California-based launch company that went public this year with an assist from Seattle-area telecom pioneer Craig McCaw, had a high-flying day on Wall Street today after recording its first successful orbital launch from Alaska.
The company’s share price rose by as much as 42% on the Nasdaq stock exchange before settling at $11.17 for a 17% gain at the end of the trading day.
The successful test launch for the U.S. Space Force on the night of Nov. 19 was the key driver for Astra’s financial rise. Rocket 3.3 LV0007 carried a test payload into orbit from the Pacific Spaceport on Alaska’s Kodiak Island — nearly a year after a previous test mission just missed reaching orbit, and three months after a follow-up launch attempt literally went sideways.
Because this mission was meant purely as a test, the payload didn’t separate from the rocket’s upper stage. Instead, it monitored conditions on the vehicle in flight for the Space Force under a contract from the Pentagon’s Defense Innovation Unit. Going forward, the Space Force is likely to be one of Astra’s prime customers.
“Reaching orbit is a historic milestone for Astra,” Chris Kemp, the company’s co-founder, chairman and CEO, said today in a news release. “We can now focus on delivering for our customers and scaling up rocket production.”