Why Astra Space Stock Is Going to the Moon Today

Shares of recent special purpose acquisition company initial public offering (IPO) and rocket launch start-up Astra Space (NASDAQ: ASTR), which got pummeled after a failed launch attempt in August, are reviving after a positive earnings announcement last night, and up 10% as of 12:10 p.m. EST.

Analysts had forecast the space launch company would lose $0.16 per share in its fiscal third quarter, even worse than last year's $0.09 per share Q3 loss. As it turned out, Astra did report a loss, but not as big as expected -- only $0.06 per share.  

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Source Fool.com