Ondas Holdings Inc. (ONDS) saw its stock price plummet by 5.14% during intraday trading on Monday, reflecting significant investor concern.

The decline follows the company's report of a preliminary fourth-quarter net loss that was worse than analysts anticipated. Ondas Holdings reported a Q4 net loss between $20.9 million and $20.4 million, compared to a net loss of $10.3 million a year earlier and an analyst expectation of a $15.7 million loss. While preliminary revenue for the quarter beat estimates, the wider loss appears to have driven negative sentiment.

Additionally, the company announced plans to acquire Mistral for $175 million, with $122.5 million of the consideration to be paid in Ondas common stock. This acquisition news, potentially viewed as dilutive to existing shareholders, likely contributed to the selling pressure during the session.