Drone firm Red Cat slips on Fuzzy Panda short report

Red Cat Holdings

10/10/2025 14:43

** Shares of Red Cat Holdings RCAT.O fall 4.8% to $14 in early trade

** Fuzzy Panda Research discloses short position in RCAT

** Says co uses paid stock promotion and that management has misled investors; adds RCAT has a "big guidance miss" coming

** Says product images of co's new drone "FANG" are made with Chinese parts and another co's old drone

** Reuters could not independently verify claims made by Fuzzy Panda Research; RCAT did not immediately respond to a request for comment

** Median PT of 4 brokerages covering RCAT is $16 - LSEG data

** As of last close, stock up 14% YTD

 (Reporting by Anshuman Tripathy)

 ((Anshuman.Tripathy@thomsonreuters.com))