Red Cat Holdings, Inc.

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Investigation Details

Red Cat Holdings, Inc. is the subject of a report released by Kerrisdale Capital. Kerrisdale Capital claims that Red Cat Holdings has overstated the revenue potential of its U.S. Army Short Range Reconnaissance (SRR) drone contract and lacks the production capacity to deliver on its promises. Their report also raises concerns the timing of executives leaving Red Cat Holdings and insider transactions that took place shortly after the announcement of the SRR contract.

Following this news, shares of Red Cat Holdings, Inc. fell over 8% on January 16, 2025.