Wolfpack says firm is short York Space Systems

In a research note, Wolfpack Research said it is short York Space Systems (YSS). The firm says 96% of 2025 revenue came from selling satellites to one customer: the Pentagon’s Space Development Agency, “and that customer is being eliminated.” Wolfpack says it spoke with multiple former employees who were “highly critical of York” and heard claims that York deceived the SDA with false advertising to win its contracts, cut corners, and delivered satellites whose mission-critical-software was not completed, and that it believes the Pentagon’s decision to eliminate Tranche 3 Transport Layer was rooted in “severe disappointment” in York.