Why Stable Road Acquisition Stock Fell This Morning, Then Recovered

The stock of special purpose acquisition company Stable Road Acquisition (NASDAQ: SRAC) woke up on the wrong side of the bed today, down 19.9% at one point this morning in response to a most disappointing announcement.

Momentus, the privately held space transportation company that Stable Road intends to bring public in an IPO later this quarter, needs further Federal Aviation Administration approval for the Vigoride space tug that it had planned to launch aboard a SpaceX Falcon 9 rocket later this month.  

Image source: Getty Images.

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Source Fool.com