DroneShield’s rebrand begins with a reality check
Its new leadership is determined to be more transparent to the market to attract more institutional investors. But Tuesday’s $250m sell-off has shown the size of the task ahead.
DroneShield first ever financial guidance landed with a thud on Tuesday.
Shares plunged 13% as the counter-drone technology manufacturer’s full-year revenue forecast missed market estimates.
That’s a steep price to pay for being more open and transparent. But new chief executive Angus Bean hopes it will pave the way for a steadier stock.
“One of the things that I would like to see is far less volatility in the stock, more consistent growth, and certainly to attract more institutional investors to the register,” he told Capital Brief on the sidelines of an ASEAN-Australia counter-terrorism conference in Indonesia.
“The way we do that is we are more upfront with information. We provide more certainty, more regular updates. It’s all about providing more information to institutions as well as retail investors to make sure they are aware of where the business really is today, but also in the future.”
