ASIC finally notices DroneShield six months later.
DroneShield
ASX:DRO
Six months after DroneShield’s governance blow-up, ASIC has confirmed it is investigating the counter-drone manufacturer, as some investors ask what took so long.
Even though both were criticised for selling down large amounts of stock earlier this year, their departure still spooked the market, wiping $500 million from Droneshield’s value.
The surging defence stock has emulated DroneShield again, and not in a good way, with a CEO selldown to pay for a house and divorce triggering a 17% plunge in less than an hour.
The counter-drone technology firm has staged a sharp recovery just two months after a management selldown sparked a brutal investor backlash.
DroneShield’s run as the latest market darling made a hard stop last week after a colossal selldown in shares from its leadership. Investors may have lost faith for good.
