Why Red Cat (RCAT) Stock Rides Bull Today

Not really famous RCAT stock is gaining today as its subsidiary Teal Drones receives a fresh order for 15 Golden Eagle drones from NATO. Red Cat is a software builder for unmanned aircraft, headquartered in San Juan, Puerto Rico. The company has five subsidiaries that emphasize drone-based products, services, and solutions.

RCAT Stock Surges 22%

Sinking RCAT could hold its position near $1.85 but managed to soar to $2.74 on March 14 when Financial Results for Fiscal Third Quarter 2022 was unveiled. Some positive updates could push the stock up but decreased revenue and negative EPS keep RCAT below $2.00. Most expenses go to the salaries of talented engineers while they are supporting an expanded manufacturing facility at Teal.

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