BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Astra Space, Inc. f/k/a Holicity Inc. (“Astra” or the “Company”) (NASDAQ: ASTR) investors concerning the Company’s possible violations of federal securities laws.
On December 29, 2021, Kerrisdale Capital published a report stating that Astra’s claim of being able to launch its rockets “anywhere in the world” was “simply not true.” The report alleged that in the US, Astra could only launch from an FAA-licensed commercial spaceport approved for vertical launch, and that only five such sites exist in the country. Furthermore, the report pointed out that Astra had managed just a single successful orbital test flight, despite the Company’s forecast calling for 165 launches by 2024 and 300 launches by 2025.
On this news, Astra’s stock fell $1.10, or 14%, to close at $6.61 per share on December 29, 2021, thereby injuring investors.
If you purchased Astra securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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