Astrotech Stock Rips Higher After Moon Mission Pitch Sends Shares Up 459%
Astrotech shares closed at $13.81 Wednesday, up 459% after the company announced a new lunar resource and space infrastructure initiative. The firm aims to explore quantum computing and semiconductor projects on the Moon, but has not signed any contracts. Third-quarter revenue fell to $343,000 with a net loss of $3.77 million. Astrotech reported $2.7 million in cash and $3.9 million in short-term assets.