These 2 Nasdaq Stocks Have Investors Giving Thanks 3 Days Early

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The stock market has delivered some amazing performance lately, and the Nasdaq Composite (NASDAQINDEX:^IXIC) has taken full advantage, rising to all-time record levels. The bull run in the Nasdaq looked ready to continue on Monday morning, as Nasdaq futures were up 60 points to 16,635 as of 8:15 a.m. ET.

A couple of Nasdaq stocks helped lead the way higher, giving investors a cure for the Monday blues. Astra Space (NASDAQ:ASTR) and Vonage Holdings (NASDAQ:VG) delivered double-digit percentage gains that made their shareholders very happy, and the trends that lifted their shares could also have positive impacts on the rest of the market as well.

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Astra launches higher

Shares of Astra Space soared 33% in premarket trading on Monday morning. The space services company celebrated an important moment in its history over the weekend.

Astra launched its first commercial payload into orbit on Friday night, delivering on its commitment to the United States Space Force. The launch occurred at Astra’s spaceport facility in Kodiak, Alaska, which is part of the Pacific Spaceport Complex.

This launch’s payload was a test that the federal agency had set up to give Astra the chance to make a successful demonstration of its ability to place it into orbit. It took less than nine minutes for the payload to reach orbital velocity.

Going forward, Astra will now be able to scale up its production of rockets so that it can offer more launches. The expenses involved could lead to a temporary increase in net losses, but the revenue opportunities it opens up should more than make up for the short-term red ink on Astra’s income statement.

Vonage makes a connection

Elsewhere, shares of Vonage Holdings jumped more than 25% in premarket trading. The cloud communications specialist received a takeover bid that will reward shareholders for their patience.

Ericsson (NASDAQ:ERIC) announced that it would spend $6.2 billion to buy Vonage. The deal will pay Vonage shareholders $21 per share in cash, and the pre-market gain in the stock reflected only a slight discount to that $21 value.

For Ericsson, the deal aims to boost its global presence in the wireless enterprise communications space. With the Vonage Communications Platform having the potential to keep growing sharply in the years to come, Ericsson believes that the acquisition will boost its market share in an industry forecast to be worth roughly $700 billion by 2030.

Vonage CEO Rory Read, meanwhile, sees the combination as making things possible that the two companies couldn’t achieve separately. In Read’s view, the evolution of the internet, cloud computing, mobility efforts, and the emergence of powerful 5G wireless network technology are combining to transform business operations. Joining forces with Ericsson will help both companies maximize their financial benefit from their vast technological resources and drive for innovation.

Vonage’s core strategy has been to embed communications capabilities into applications, workflows, and customer experiences that improve connections between businesses and their customers. As advances in communications technology become available, that vision is increasingly becoming a reality. Now, it appears that Ericsson will be the biggest beneficiary of the efforts Vonage has made to take a leadership role in this high-growth area.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.