Published: May 10, 2023 at 2:42 p.m. ET
By Denny Jacob
Red Cat Holdings on Wednesday said it will meet an order to offer 200 long-range, high-speed first-person view drones to Ukrainian drone pilots engaged with the continuous war with Russia.
Shares rose more than 35% in intraday trading following the news. Trading resumed 5 minutes after being stopped briefly due to volatility…
By Denny Jacob
Red Cat Holdings on Wednesday said it will meet an order to offer 200 long-range, high-speed first-person view drones to Ukrainian drone pilots engaged with the continuous war with Russia.
Shares rose more than 35% in intraday trading following the news. Trading resumed 5 minutes after being stopped briefly due to volatility at 2:31 p.m. ET.
The business, which supplies product or services to the drone market, said the drones will be provided to Ukraine in June. Chief Executive Jeff Thompson said the order will consist of the business’s brand-new nighttime drone.
Write to Denny Jacob at [email protected]