Nasdaq Delays Decision on Astra Space Delisting
Launch and spacecraft engine supplier Astra Space (NAS: ASTR) says that it won’t learn Nasdaq’s decision on whether to delist its shares or grant the company another six months to get its stock price up to $1.00 per share.
“Astra has been in touch with representatives from Nasdaq and we have been told to expect an update on our application for a 180 day extension to cure our minimum bid price deficiency during the week of April 10,” the company tweeted. “We remain unaware of any reason why our application will not be approved and will update all stakeholders as soon as we receive a decision from Nasdaq.”
The first 180-day period ran out on Tuesday. The company had been expecting to hear about the extension today.
Astra’s stock fell $0.04 from $0.39 to $0.35 on Wednesday. Shares recovered $0.03 to $0.38 in after-hours trading on new of the delay.
2 responses to “Nasdaq Delays Decision on Astra Space Delisting”
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Given the abysmal performance so far and backwards progress, it would seem to me that an extension would be extremely charitable. Even if they get Rocket 4 to fly successfully in the next 6 months (doubtful), would it really pushing the share price up 300%, in the current environment? Very doubtful.
Sorry Astra, nothing personal. Wish you had succeeded, but from the outside looking in, you’re circling the drain.
sigh