DroneShield selloff continues
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The news: DroneShield's share price continued to plunge on Wednesday despite the company saying that there was no new information or change of circumstances around the business.
The numbers: DroneShield fell 23.58% to $1.62 by 1:07pm AEST. On Tuesday, its shares fell 23.65%.
However, over the past 12 months the stock has rocketed 403.13%.
The context: The ASX put the anti-drone defence contractor into a trading pause following a 28% slide early Tuesday after months of consistent market gains.
When queried on potential reasons for the sudden price drop, DroneShield pointed to a Capital Brief article detailing investors' scrutiny of its overvaluation as it approached a $2 billion market cap.
