VORB - Virgin Orbit trades higher after successful launch of satellites

Virgin Orbit ( NASDAQ: VORB ) traded higher on Tuesday after a successful launch for the Straight Up mission.

The company's launch saw seven satellites carried to Low Earth Orbit for the United States Space Force, who procured the launch for the Rocket Systems Launch Program, with payloads provided by the Department of Defense Space Test Program.

The launch began at 10:50 p.m. local time on July 1 from Mojave Air and Space Port in California  and concluded with the successful deployment of all seven payloads at approximately 12:55 a.m.

The seven satellites deployed by the result of the Straight Up launch are from multiple government agencies and will facilitate experiments intended to demonstrate innovative spacecraft technologies, new approaches for satellite applications, and Earth atmospheric science.

The Straight Up launch marked the company’s fourth successful commercial flight. Virgin Orbit ( VORB ) has now delivered a total of thirty-three satellites to orbit with 100% mission success.

Shares of Virgin Orbit ( VORB ) gained 1.88% in early trading on Tuesday.

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