Drone technology firm Red Cat falls after Kerrisdale takes short position

Red Cat Holdings

16/01/2025 16:58

** Shares of Red Cat Holdings  RCAT.O  down 8% to $10
    ** Kerrisdale Capital says it has taken a short position in
RCAT
    ** Investment firm adds that the drone technology firm has
been "misleading investors about its manufacturing capacity for
years"
    ** RCAT's declarations and projections rarely materialize,
and believe the same will be true of both its 2025 guidance and
the parameters of a US Army short range reconnaissance contract
- Kerrisdale
    ** "Having set almost impossible expectations, Red Cat is
set to be blown out of the sky" - Kerrisdale

 (Reporting by Juby Anna Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))