Drone Shield Trading Pause Lifted (Results)
**Context:**
DroneShield Limited (DRO) responded to an ASX price query on July 16, 2024, regarding recent trading activity in its securities.
**Key Points:**
1. **Market Activity Explanation:**
- DRO is aware of a recent article titled "Short Sellers Circle DroneShield as it Nears Wild $2B Market Cap" published on Capital Brief.
- The article discussed:
- Recent share price performance.
- Market cap comparisons to large companies in various Australian industries.
- Opinions from two fund managers suggesting DRO's valuation might be overheated.
- Outlooks from two stock analysts.
- A brief summary of DRO’s business.
2. **No New Information:**
- DRO clarified that there is no new information or change in business circumstances to explain the recent trading activity.
3. **Compliance and Authorization:**
- DRO confirmed compliance with ASX Listing Rules, particularly Listing Rule 3.1.
- The responses were authorized and approved by DRO's Board under its continuous disclosure policy.
Conclusion:
DroneShield Limited attributes the recent trading activity to market commentary and assures that no new business developments have occurred. The company's response has been verified and approved by its Board of Directors.
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152312695 : Price correction is appropriate. DroneShield is an exciting company with good long-term growth prospects. Price should be hovering around 2 until they announce further success. going up to 2.7 so quickly was a ridiculous fantasy caused by speculative retail investors.
Hoptin OP 152312695 : Much needed can’t expect to print money like crypto, this is based on company performance and not speculation, it’s nice to have some pull back like this because it shows that it’s not immune to speculation
This still hurts mine and many more equity nothing says a good day like losing 20-25% of your holdings
But yes, a lot attentions right now with Russia and Ukraine. I mentioned it another comment before that there is a lot of individual holders so a big run like this was to be expected, Just sucks today.
Jeffrey990 Hoptin OP : I cleared my position at a high level yesterday, but if I fell down today, I can open a position again![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
AdamLC 152312695 : Yeah I agree, still a good investment long term and I’ve thrown in some more cash on the massive dip.
AdamLC Jeffrey990 : Well played![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
My strategy was to pump more money in the more it went down.