Astra stock surges 30% after the rocket builder reached orbit successfully - CNBC

The launch makes Astra the latest among a small group of U.S companies to reach orbit with a privately-funded rocket, joining SpaceX, Rocket Lab, and Virgin Orbit.

The company's rocket is 43 feet tall and fits in the small rocket segment of the launch market.

Kemp noted that its Rocket 3.3 variation can carry about 50 kilograms of payload to low Earth orbit, with its planned Rocket 4.0 version expected to increase that capacity.

Kemp said the successful LV0007 launch "suggests that there's not going to be a lot of attention" on further changes to its Rocket 3.3 variation.