Three publicly traded space companies - Momentus, Astra, and Sidus Space - appear to be running low on cash. Momentus has already warned shareholders it's short on funds and abandoned its next mission. Astra's valuation has dropped from $2.5 billion to under $50 million and has been out of cash since October. Sidus Space has faced challenges with post-IPO fundraising efforts under $5 million and a drop in valuation to around $9 million by September's end.
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00:00 It's Benzinga and here's what's on the block.
00:02 Three publicly traded space companies, Momentus, Astra, and Citiz Space, appear to be running low
00:08 on cash. Momentus has already warned shareholders it's short on funds and abandoned its next year
00:13 mission. Astra's valuation has dropped from $2.5 billion to under $50 million and has been out of
00:19 cash since October. Citiz Space has faced challenges with post-IPO fundraising efforts
00:24 under $5 million and a drop in valuation to around $9 million by September's end. Once valued over
00:31 $1 billion, $2.5 billion, and $200 million, respectively, they now have market caps under
00:37 $10 million each amid failed growth plans. While some challenges loom, overall investment in the
00:43 space sector rebounded in 2023 and most companies are not critically struggling yet. For all things
00:47 money visit Benzinga.com