Defense Contractor Red Cat Soars on Military Drone Prospects

Shares of defense technology firm Red Cat Holdings Inc. experienced a significant surge as trading concluded for the week, closing with a remarkable single-day gain exceeding 15% to reach $9.16. The catalyst for this rally appears less tied to recent financial results and more closely linked to burgeoning expectations surrounding a key U.S. Army initiative and an upcoming investor presentation.

The equity opened trading on January 2nd at $8.25 before climbing sharply to its $9.16 closing price. Trading activity was notably robust, with volume reaching 11.53 million shares—a figure substantially above the average daily volume of approximately 8.2 million shares. This pattern of trading suggests heightened interest, potentially from institutional investors or a broad Read more...