Investors ecstatic as the Astra rocket reaches space

Astra Space is a California-based small-rocket startup, had its shares rise more than 30% at one point Monday after the company sent a US Space Force test payload into orbit for the first time over the weekend.

The Astra Rocket 3 was the company’s sixth rocket, and it was produced in Alameda, near San Francisco.

Astra Space is the latest addition to the tiny group of commercial orbital launchers that includes SpaceX, Rocket Lab, and Virgin Orbit, all of which are situated in California.

The shares of Astra ended the day at $11.17, up 17.2 percent.

According to Astra founder and CEO, Chris Kemp, stated to the media, “Reaching orbit is a historic milestone for Astra.”

He added, “We can now focus on delivering for our customers and scaling up rocket production and launch cadence.”

Elon Musk, the creator and CEO of SpaceX, acknowledged Astra’s Friday night accomplishment the next day on Twitter, saying, “Congrats! Orbit is not easy.”

Orbit. ✅ Astra successfully completed its first commercial orbital launch for the @SpaceForceDoD late Friday night, November 19, 2021, PST: https://t.co/FakPzAvfxI #AdAstra pic.twitter.com/icWXvAKjAn

— Astra (@Astra) November 22, 2021

When compared to SpaceX’s Falcon 9, which stands over 229 feet tall, Astra’s rocket is comparatively modest, measuring a little over 38 feet. The Electron from Rocket Lab stands 56 feet tall.

Former NASA and SpaceX executives make up Astra, which is overseen by Kemp, a former NASA chief technology officer.

In August 2020, an Astra rocket launched into space for the first time, although it failed to establish orbit around the Earth.

STP-27AD2 was launched from Astra’s launch complex at the Pacific Spaceport Complex in Kodiak, Alaska, on Friday.

The Space Test Program, or STP, of the Department of Defense, offers launches for military and intelligence organizations. The department does not provide much information on the products that are released.

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