Why Did Red Cat Stock Drop Today?
Red Cat's big win turns out to be quite small.
Overview
Easy come, easy go, easy go... down even more.
Three weeks ago, investors in Red Cat Holdings (NASDAQ: RCAT) stock got encouraging news when it announced it would team up with artificial intelligence company Safe Pro Group to bid on a U.S. Army contract to detect landmines and other threats on the ground, by flying over them with AI-equipped Black Widow drones.
Details
One week ago, the news got even better when Red Cat announced that it had won the contract. There was just one problem: No one knew how much the contract was worth, or exactly how good the news would be for Red Cat.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.