Astra releases update on February 10th launch failure
Capitalism in space: Astra yesterday released an update on its investigation into its February 10th launch failure at Cape Canaveral.
The update doesn’t provide any conclusions, but merely notes that the company has completed its review of all “video and telemetry” from the event, and has reconstructed a full timeline from that data.
It is now reviewing that timeline to create what engineers call “fault trees”, each a specific scenario path pointing at a possible cause of the failure. Once that cause has been identified, engineers can then propose a solution.
According to the press release, the company is already “implementing corrective actions”, though the release provides no information as to what the cause was or what they are doing to correct. It states instead that once the investigation and corrections have been completely, the company will then release a full report.
Meanwhile, it appears that at least six law firms are considering suing the company, which became a publicly traded company in July 2021. These law firms “…are seeking clients who lost significant amount of money after purchasing the stock.” The launch failure caused the stock value to drop significantly, and these law firms apparently think that the company has made false claims about its plans — such as its claim that it will eventually be launch 300 times per year — and wish to put together a class action lawsuit based on this accusation plus the drop in stock price.
Whether Astra can meet its goal of 300 launches per year is certainly at this time questionable. However, it is too soon to call the company a failure. Once it recovers from the launch failure and resumes launches — a process that for any new rocket company generally takes a few years — that stock price will certainly recover, and will rise with each successful launch.
Only should Astra fail to resume launches, or continue to fail with each launch, will the stock truly crash, and thus provide these law firms with a possible case.
At the same time, in a free society we are supposed to recognize the concept of “buyer beware.” If you buy a product or a stock, it is at your own risk. If you fail to do due diligence beforehand, your loss is your responsibility, not the company who made the product or whose stock crashed.
It appears, based on everything Astra has so far done, an investment in its stocks while quite risky has not been an unreasonable gamble, making the present case for these lawsuits somewhat weak. Time will tell however whether that changes in the future.
The support of my readers through the years has given me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Four years ago, just before the 2020 election I wrote that Joe Biden's mental health was suspect. Only in this year has the propaganda mainstream media decided to recognize that basic fact.
Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Even today NASA and Congress refuse to recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
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Capitalism in space: Astra yesterday released an update on its investigation into its February 10th launch failure at Cape Canaveral.
The update doesn’t provide any conclusions, but merely notes that the company has completed its review of all “video and telemetry” from the event, and has reconstructed a full timeline from that data.
It is now reviewing that timeline to create what engineers call “fault trees”, each a specific scenario path pointing at a possible cause of the failure. Once that cause has been identified, engineers can then propose a solution.
According to the press release, the company is already “implementing corrective actions”, though the release provides no information as to what the cause was or what they are doing to correct. It states instead that once the investigation and corrections have been completely, the company will then release a full report.
Meanwhile, it appears that at least six law firms are considering suing the company, which became a publicly traded company in July 2021. These law firms “…are seeking clients who lost significant amount of money after purchasing the stock.” The launch failure caused the stock value to drop significantly, and these law firms apparently think that the company has made false claims about its plans — such as its claim that it will eventually be launch 300 times per year — and wish to put together a class action lawsuit based on this accusation plus the drop in stock price.
Whether Astra can meet its goal of 300 launches per year is certainly at this time questionable. However, it is too soon to call the company a failure. Once it recovers from the launch failure and resumes launches — a process that for any new rocket company generally takes a few years — that stock price will certainly recover, and will rise with each successful launch.
Only should Astra fail to resume launches, or continue to fail with each launch, will the stock truly crash, and thus provide these law firms with a possible case.
At the same time, in a free society we are supposed to recognize the concept of “buyer beware.” If you buy a product or a stock, it is at your own risk. If you fail to do due diligence beforehand, your loss is your responsibility, not the company who made the product or whose stock crashed.
It appears, based on everything Astra has so far done, an investment in its stocks while quite risky has not been an unreasonable gamble, making the present case for these lawsuits somewhat weak. Time will tell however whether that changes in the future.
The support of my readers through the years has given me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Four years ago, just before the 2020 election I wrote that Joe Biden's mental health was suspect. Only in this year has the propaganda mainstream media decided to recognize that basic fact.
Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Even today NASA and Congress refuse to recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
Please consider supporting my work here at Behind the Black.
You can support me either by giving a one-time contribution or a regular subscription. There are five ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation:
5. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above. And if you buy the books through the ebookit links, I get a larger cut and I get it sooner.
Mr Z:
This company Astra went public much too early – without a working product. That was only possible because they used a special purpose acquisition company.
SPACs ….sick of all this high-falutin mumbo jumbo…econo-speak.