DroneShield shares rise on US government order
Make us a preferred source
Make us a preferred source on Google
More news: Shares in DroneShield gained on the ASX after the defence tech company announced that it had won a repeat order from a US government customer for $3.1 million for a number of its counterdrone systems.
DroneShield shares rose 3.2% to $1.28 by 2pm AEST.
DroneShield secures $3.1m US government contract
The news: Defence tech company DroneShield has secured a repeat order of $3.1 million from a US government customer for a number of its counterdrone systems.
The context: Sydney-based DroneShield said the delivery is expected to be completed this month, using available stock on hand, with payment due in the December quarter.
DroneShield has become favourite stock among retail investors, flirting with a $2 billion valuation in July before watching its market cap more than halve in the weeks since.
The company saw its shares tumble last month after widening its first-half loss, driven largely by share-based payment expenses as it looks to attract talent.
Over the last 12 months its share price has rocketed 342.86% to $1.24.
The source: ASX announcement
