The shares of Astra Orbit Inc. plummeted after the company’s first client launch was canceled at the last minute, delaying Monday’s attempt to launch a rocket into orbit.
The company’s shares fell 19%
Onboard systems automatically triggered the first halt before the rocket left the launch pad, according to the National Aeronautics and Space Administration.
Astra Space said on Twitter that it would be shutting down on Monday owing to a telemetry issue and would provide an update on the next launch opportunity as soon as feasible.
In Alameda, California, a launch business attempted to launch four cubesats for three institutions and NASA. Cubesats are small satellites that weigh less than three pounds.
When the launch of Astra Space’s rocket was postponed, the company’s shares fell. The company’s stock dropped 19 percent in New York trade on Monday.