Astra Space Mulls Strategic Options, Including Asset Sales: Report
Portfolio Pulse from Shivani Kumaresan
Astra Space Inc (NASDAQ:ASTR) is reportedly considering strategic options, including the sale of a majority share in its in-space propulsion arm and other parts of its business. The company aims to value this division upwards of $100 million. However, the final decision is still pending. Following the news, Astra's stock dipped by 2.2%, reducing its market cap to approximately $24 million.
October 11, 2023 | 11:11 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Astra Space Inc is considering selling parts of its business, which led to a 2.2% dip in its stock price.
The news about Astra Space Inc considering selling parts of its business has created uncertainty among investors, leading to a dip in its stock price. If the company goes ahead with the sale, it could potentially impact its future earnings and growth, which could further affect its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100