- Spacecraft engine maker and small rocket builder Astra announced Friday that the company is investigating “potential illegal short selling.”
- The company said it hired financial software firm ShareIntel to help with its review of “suspicious, anomalous or unusual trading activity.”
- The announcement comes as Astra faces an April 4 delisting deadline issued by Nasdaq last year.
Astra CEO Chris Kemp speaks inside the company’s headquarters during the company’s “Spacetech Day” on May 12, 2022.
Brady Kenniston / Astra
Spacecraft engine maker and small rocket builder Astra announced Friday that the company is investigating “potential illegal short selling” among shareholders of its common stock.
The company said it hired financial software firm ShareIntel to help with its review of “suspicious, anomalous or unusual trading activity.”
“Astra remains committed to protecting our investors and maximizing shareholder value,” chairman and CEO Chris Kemp said in a statement.
The announcement comes as Astra faces a delisting deadline issued by Nasdaq last year. With shares at 47 cents from Friday’s open, Astra has until April 4 for the share price to return above $1 per share. stock for at least ten consecutive business days or it will receive a delisting notice from Nasdaq. If that happens, Astra is able to appeal the delisting before a Nasdaq hearing panel.
Astra is expected to report fourth-quarter results after the market closes on March 30.