Astra Space announced that it has taken initial steps to mitigate potential illegal short selling in its shares, including providing notices to the respective chief compliance officers of certain broker-dealers identified in analysis performed by ShareIntel-Shareholder Intelligence Services. As announced on March 10, Astra engaged ShareIntel to help uncover and address potential trading abnormalities in an effort to ensure that those brokering and trading Astra’s stock are compliant with FINRA and SEC rules and regulations governing short selling. The company said, "ShareIntel’s analysis has identified trade imbalances in the trading of Astra’s shares, which are potentially material relative to Astra’s public float and average trading volume. These imbalances may be the by-product of illegal trading activity and may be an indication that certain individuals and/or companies may have sold (but not delivered) a significant number of shares of Astra’s Class A common stock."
Published first on TheFly
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