Is Red Cat Holdings a Top Drone Defense Stock to Buy Right Now?
The United States is making a strong push for domestic drone production.
Overview
Last year, the Pentagon announced a $1.1 billion program to unleash American drone dominance. This program builds on the lessons learned from Ukraine's ongoing conflict with Russia, as the rules of warfare continue to evolve with modern technology.
Related to this change, one company that has come onto investors' radars is Red Cat Holdings (NASDAQ: RCAT). The company has positioned itself as a U.S.-based drone company and is competing for major defense contracts. Is this enough to make the drone stock a buy right now? Let's dive in and explore its long-term potential.
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Originally published at www.fool.com.
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