Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
I would like your opinion on the current strong share price growth in this comapny. I understand it currently has no instituional or major shareholders - is that an issue? It does seem to be on a very strong footing with strong market tailwind and growth pathway. I am a holder with an overweight position and wanted a sanity check to see if I am missing any red flags here? Cheers Martin
Hi Martin,
I suspect this question may have been framed a little differently if it came a day later. DroneShield (DRO) has surged 4x in a matter of months as they see increased demand from a range of areas and a sugar hit coming out of the Middle East conflict. More recently, they penned an agreement with NATO make their defence technology available to the alliance, which will likely see increased demand from member countries.
Soon after, they announced a capital raise, looking for $75m to fund additional capacity and inventory. There was significant demand for the deal which has now been upsized by a further $30m. We like the company and it will be keeping a close eye on the share price when it resumes normal trade on Monday. The deal was done at 80c, a huge 28.6% discount tot he prior close though it is important to note the stock was trading there less than a fortnight ago.
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