Astra Uncovers Possible Illegal Short Selling with Delisting Deadline Approaching
Staff Editor Astra Inc. is currently investigating the potential of illegal short selling as its delisting deadline looms closer. The company has hired financial software firm ShareIntel to assist in their review of any suspicious, aberrant, or unusual trading activity that may have taken place.
The investigation into this matter comes after several reports and rumors suggested that some investors had been engaging in illegal short-selling practices with Astra’s stock over the past few months. Short selling is when an investor sells shares they do not own, hoping to buy them back at a lower price later on and make a profit from the difference between both prices.
It remains unclear how much impact such activities could have had on Astra’s share price but it appears that they are taking no chances by launching an investigation before their delisting deadline arrives next month. They hope to uncover any evidence related to these potentially illicit trades so they can take appropriate action if necessary before it becomes too late for them to do anything about it now or in the future should similar scenarios arise again down the line.
Read more at CNBC
