Just for some texture to the short position which according to Yahoo is at 8.1%.
Kerrisdale Capital released Astra Space: Headed For Dis-Astra on December the 29th. They have helpful out together a TLDR here or a Still TLDR is below.
We are short shares of Astra Space, a $2.0bn space launch company formed at the peak of the 2021 SPAC bubble – with no revenue, no track record of reliability, and no established market for its undersized vehicle. A story stock that’s yet another example of the questionable businesses going public via SPACs, Astra faces massive obstacles in its quest to develop a viable business model.
Astra’s investor pitch boils down to selling the pipedream of an unprecedented number of cheap rocket launches. Astra’s forecast calls for 300 launches per year by 2025 , a whopping 10x more than SpaceX achieved in 2021.