Astra stock surges after rocket builder reached orbit successfully

Shares of rocket builder Astra surged in trading on Monday after the company reached orbit for the first time over the weekend.

The company’s rocket LV0007 launched from the Pacific Spaceport Complex in Kodiak, Alaska on Saturday, carrying a test payload for the U.S. Space Force.

“Getting to orbit was really hard. Astra and only a few other companies – I can count them on one hand – have done this, ever,” Astra CEO Chris Kemp told reporters on Monday.

“We’re now focusing on delivering for our customers and scaling up the production and the launch cadence of our system,” Kemp…