Red Cat Holdings (RCAT) shares were down 3.3% in recent Thursday trading after short-seller Kerrisdale Capital said that expectations for the size of a contract to make the US Army's short-range reconnaissance drone as well as follow-on sales "bear almost no relationship to reality."
Red Cat didn't immediately respond to a request for comment by MT Newswires.
Kerrisdale said that Red Cat's market capitalization increased by more than $900 million over the past nine months, mostly driven by the anticipation of an award for the production of the US Army's drone and the supposedly vast market potential unlocked by such endorsement.
Kerrisdale added it does not expect Red Cat's 2025 guidance and the parameters of the US Army drone contract to materialize.
Price: 10.55, Change: -0.36, Percent Change: -3.30
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。