Red Cat (RCAT) Is Falling 40% In Open Market: What’s The Next Step For You To Decide?

Red Cat Holdings stock has been surging on positive results this past week. The stock was trading at $2.92 on July 13. A couple of hours later the stock has jumped by over 97% in just two hours then it dropped just that day. As of the last trading session, the stock has increased another 40% and it traded at $7.05 at the close. The pre-market shows a 38% fall.
Red Cat, a leading provider of technology solutions for the drone industry, announced today on July 19, the pricing of its public offering of 13,700,000 shares of its common stock, at a public offering price per share of $4.50, they expect the gross income of about $60 million. Red Cat has allowed the underwriters to purchase extra 2 million shares of stock.

The offering is being made pursuant to an effective shelf registration. Red Cat Drone Services, Inc., a provider of drone services, announced today that it has priced its underwritten public offering of 3,500,000 shares of its common stock at a price of $1.00 per share.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.

Want Hot Stocks?    Yes. I Love Them No thanks