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Bad news for investors $ASTS
Yesterday, the New Glenn-3 rocket from @blueorigin launched BlueBird 7, but it placed the satellite into a lower orbit than planned. The satellite successfully powered on but at a much lower altitude than targeted.
The satellite's onboard engines are unable to compensate for the altitude difference, so it will burn up in the atmosphere.
The satellite's cost is fully covered by insurance ( according to the company's statement )
$ASTS stock drops -13% 🔻
$ASTS