Late arrival
ASIC finally notices DroneShield six months later.
Good Morning.
Six months after DroneShield’s former CEO, chair and a director quietly sold their entire stakes for $66.8 million while a dud contract announcement was still live on the ASX, ASIC has finally confirmed it is investigating.
The shares tanked on the news, which given the market had largely moved on, tells you something about how much uncertainty still hangs over this one. But as Capital Brief’s Hugo Mathers writes, the bigger question is what took so long.
| ▼ | ASX All Ords | 8,910 | -0.37% |
| ▼ | ASX All Tech | 2,752 | -2.77% |
| ▲ | Oil | $107.90 | +3.26% |
| ▼ | Gold | $4,703 | -0.68% |
| ▼ | Bitcoin | $81,009 | -0.18% |
| ▼ | Ethereum | $2,303 | -1.35% |
ASX 200 as at market close. Bitcoin in USD.
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Market movers
| ▼ | ASX:360 | $17.92 | -10.86% |
Shares in family tracking app Life360 plunged on Tuesday after the company downgraded its user growth guidance for the full year, citing a technical issue in the first quarter that suppressed new sign-ups and which management said would not fully recover until the third quarter. Even as the company raised its full-year earnings and revenue guidance, the market focused squarely on the user growth miss.
