DroneShield shares retreat despite new software update
Make us a preferred source
Make us a preferred source on Google
The news: DroneShield was the biggest loser across the ASX 200 in afternoon trade as shares continued to retreat from record highs despite it announcing a new software update.
The update enables integration of the company’s counter-drone intelligence directly into the Team Awareness Kit ecosystem.
The numbers: At 1:16pm AEDT, shares in DroneShield had fallen 4% to $5.79. The stock is down 6.3% over the last five days but is still up 672% in the year to date.
The context: DroneShield shares have been rallying this year on increasing geopolitical tensions and as the use of drones in warfare has expanded. The counter drone manufacturer’s shares hit a new peak last week but have since eased.
On Tuesday, the company announced the release of a new RfPatrol-Plugin that enables DroneShield’s counter drone intelligence to be integrated into the Team Awareness Kit command-and-control environment. It can be downloaded on Android devices through the DroneShield access portal.
What they said: “By embedding our detection capabilities directly into the systems operators already rely on, we are expanding mission effectiveness and strengthening DroneShield’s position as the trusted leader in end-to-end counter-drone technology,” DroneShield chief product and technology Angus Bean.
The source: DroneShield media release
