Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi MM Team, I have noticed that Droneshield (DRO) has oscillated since the beginning of the calendar year between $0.35 and $0.90+. Do you know the reason for the extreme volatility? Best regards, John
Hi John,
This $385mn drone detection company has certainly experienced a roller-coaster ride in 2024, initially more than doubling before almost halving in the last fortnight, a traders delight!
Over the last 2-months the company has won two government contracts worth in excess of $11mn while their products are being actively used in the Ukraine-Russia conflict. The defence technology company delivered strong FY23 results last week which sent the stock shooting higher after they delivered their inaugural NPAT of $9.3mn. However, directors sold aggressively through late February and early March implying this might be as good as it gets for a while.
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