Shares of Astra Space Inc. plunged 24.5% into record-low territory in morning trading Monday, after the orbital launch services company disclosed that it failed to deliver a payload after launch. The stock has now plummeted 42.0% amid a five day losing streak. The company said that on June 12, it conducted its first launch for the National Aeronautics and Space Administration’s (NASA) Tropics-1 mission. “While we had a nominal first stage flight, our upper stage shut down early and we did not deliver the payloads into low Earth orbit,” the company said in an 8-K filing with the Securities and Exchange Commission. “We are reviewing flight data to determine the root cause of this anomaly and will provide additional information when it is available.” The stock has tumbled 78.0% year to date, while shares of space-travel company Virgin Galactic Holdings Inc. have dropped 56.7% and the S&P 500 has shed 20.2%.
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