How to Buy Astra Stock [2024]

Summary: Astra (NASDAQ: ASTR) is a prominent player in the US aerospace industry, and a publicly traded company. Therefore, to buy Astra stock, you can register an account with a reputable brokerage platform, such as our go-to option, eToro.

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About Astra

Astra Inc (NASDAQ: ASTR), headquartered in Alameda, California, is a launch vehicle company operating under two primary segments: Launch Services and Space Products.

Astra’s Launch Services business provides one of the most cost-effective orbital launch services of any operational launch provider globally. Meanwhile, its Space Products division offers the Astra Spacecraft Engine™, one of the sector’s first flight-proven electric propulsion systems for satellites.

Astra’s offerings are primarily directed toward satellite operators, satellite manufacturers, and government agencies, solidifying its reputation as a multifaceted space enterprise.

Astra was the first space launch firm to be publicly listed on Nasdaq, where it trades under the ticker ASTR.

For more diversified exposure to space stocks, check out our guide about the top 3 space ETFs to buy in 2024.

How to buy Astra stock: Step-by-step process

To buy Astra stock, follow these four simple steps:

Select a broker;
Sign up and deposit funds;
Buy Astra stock;
Periodically monitor your position in ASTR.

Before you invest in ASTR, conduct a comprehensive review of the company. Dive deep into its financial records, understand its business strategy, gauge its standing in the industry, evaluate its historical performance, and consider its earnings forecasts. Stay updated with related news. Reflect on your financial situation, investment objectives, and risk capacity. Remember, stock trading comes with risks, so professional advice can be beneficial.

Step 1: Choose a broker

When evaluating brokers, besides ensuring they provide access to NASDAQ and ASTR, consider these five aspects:

Fees and commissions: Check for reasonable and competitive pricing;
Security: Ensure the platform employs robust cybersecurity protocols to safeguard your information and assets;
Regulatory oversight: The broker should fall under the jurisdiction of a respected financial regulator;
Deposit and withdrawal methods: Their transaction methods should align with your preferences and not be costly;
Research resources: The availability of market information, news updates, and analytical tools can be useful.

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0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
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Step 2: Register and fund your account

You’ll need to provide some basic personal information to create your account, including your name, address, phone number, email, and a form of identification for verification purposes in line with financial regulations.

When setting up your account, don’t forget to set up a strong, unique password and opt for two-factor authentication (2FA) if offered.

Once your account is verified, you can then fund your account:

Select a deposit method: This could be bank transfers, credit/debit cards, third-party payment services such as PayPal (PYPL), or other payment methods, depending on the platform;
Enter amount: Decide the amount you wish to deposit, keeping in mind any minimum deposit requirements the platform might have;
Initiate transfer: Follow the platform’s instructions to transfer funds to your brokerage account.

Step 3: Place your order and buy ASTR shares

Now that your account is funded, you can place an order. To do so, follow these steps:

Step 1: Search for Astra using its ticker symbol, ASTR;
Step 2: Choose between a market order (buy or sell immediately at the best available price) or a limit order (buy or sell at a specific price or better);
Step 3: Decide the number of shares or dollar amount of ASTR you want to buy;
Step 4: Before submitting the order, review all details to ensure they’re correct. If everything is okay, submit the order to your broker for execution.

Step 4: Monitor your investment

After investing in Astra, it’s wise to periodically check on your investment. Instead of daily tracking, consider reviewing Astra’s quarterly financial statements, notable announcements, and significant developments, as these can shed light on the company’s health and future trajectory. Stay updated with overarching industry trends and news that might sway the space launch sector and, by extension, Astra’s stock value. Utilize analytical tools and platforms for occasional insights, and consider seting up monthly or quarterly reminders to review your position.

Periodic monitoring ensures you remain informed, allowing you to adjust your investment strategy for Astra as necessary without the stress of daily stock watching.

Astra stock price today

Pros and cons of buying Astra stock

Pros

Emerging market: As satellites and space technology continue to be vital for various industries, there’s potential for growth in the small satellite launch market;
Rapid progress: Astra achieved its first commercial launch to low Earth orbit relatively quickly, showcasing their agility and potential for growth.

Cons

High competition: The space launch market is becoming increasingly competitive with giants like SpaceX and Blue Origin, as well as emerging players;
Technological risks: Space technology is complex, and any malfunctions or accidents can have severe repercussions, both financially and reputationally;
Regulatory and political risks: The space industry is heavily regulated, and any changes in international space laws or treaties could impact operations;
Profitability concerns: As a relatively new player in the industry, Astra might face challenges in becoming consistently profitable, especially given the high costs associated with space launches.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy Astra stock