Red Cat Navigates Mixed Signals Amid Drone Warship Plans

about 1 month ago

Nathan Hager

"So, yes, Red Cat is down near seven percent. This is a drone stock. It got a lot of attention on the Department of Defense's new drone focus of late. They announced a proposed public offering of shares. Now, the scant details on size and terms ... but it intends to use the proceeds for working capital for CapEx spending related to unmanned surface vessels, which is essentially drone warships."

Red Cat, a drone technology stock, is down roughly 7% as it plans a public offering aimed at funding CapEx for unmanned surface vessels (drone warships). While the announcement carries intriguing prospects for tapping new markets beyond traditional drone applications, the lack of detailed offering terms adds uncertainty.

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