DroneShield Shares Plunge After Contract Announcement Blunder

Monday’s trading session delivered a dramatic reversal for Australian defense technology firm DroneShield, as an early share price surge abruptly collapsed following a significant corporate communication error. The company was forced to retract an announcement claiming $7.6 million in new U.S. government contracts, attributing the misinformation to what it described as an “administrative mistake.”

Market excitement initially propelled DroneShield shares upward by 8.5 percent during Monday’s trading, with the stock climbing from A$3.22 to A$3.50. This bullish movement came in response to what appeared to be three substantial new government contracts. However, the optimism proved short-lived as company officials quickly clarified that these weren’t new orders but rather Read more...