‘Remarkable recovery’: DroneShield rebounds from insider selldown saga
The counter-drone technology firm has staged a sharp recovery just two months after a management selldown sparked a brutal investor backlash.
For a brief moment late last year, there appeared to be no way back for DroneShield’s management team.
A controversial selldown of shares by chief executive Oleg Vornik and two other board members triggered a severe sell-off and a searing backlash at a company that had delivered unrelenting gains in the preceding months.
But almost exactly two months after the stock hit a low of $1.72, DroneShield was trading more than 150% higher, closing at $4.73 on Thursday.
TWC Invest co-founder and chief investment officer John Birkhold said the stock had staged a “remarkable recovery given what transpired”.
