Last week, Astra Space, Inc. (NASDAQ: ASTR) achieved a key milestone. The company has successfully tested its vacuum rocket motor, which has become a catalyst for rising stock prices.
In today's chaotic marketplace, the biggest gains will come from some currently-small companies that pass by older, larger businesses still stuck in a pre-pandemic world. The trick is figuring out which small caps will be tomorrow's winners. That's why StockWire News has put together a special Wealth Building Report, highlighting 3 small cap stocks set to soar in 2023.
Click here for full details and to join for free
The Sherpa-LTE1 experimental spacecraft was launched into space in June 2021, and it is based on the notion of a tiny tug that can carry small payloads to varied orbits.
The equipment is designed to allow for the use of a variety of motors. The Apollo Fusion electric rocket engine from Astra Space, Inc. (ASTR) is used for the launch. It works by converting inert gases (such as xenon or krypton) into high-velocity plasma using electricity. The Apollo Fusion engine is intended for Sherpa-LTE1 variants capable of entering high geostationary orbits, reaching speeds of over 6 kilometers per second, and travelling to other planets.
In general, the notion marks the beginning of a new era in space exploration. Small, low-cost commercial satellites, for example, may now be sent to the Moon. Microsatellites were previously only launched into low Earth orbits up to 1000 km in height, therefore this was not an option.
The Apollo Fusion engine of Astra Space, Inc. (ASTR) successfully turned on and began accelerating the Sherpa-LTE1 satellite last week. This is the first time the Apollo Fusion technology has been used in space, and it’s a promising product that the business may use for a variety of applications, from geostationary communications satellites to the first commercial space missions for researching deep space beyond the Moon’s orbit.
Astra Space, Inc. (ASTR) previously stated that it has received the order for dozens of space launches. In Alaska, the firm has its own tiny launch vehicle and launch site.
ASTR was valued at $11.67 in the trading on August 27th. The company has a market cap of $2.96 billion.