After a deep red November, the DroneShield share showed no improvement in the first days of December: the losses continued unabated.
• DroneShield has also made losses so far in December
• Annual balance still extremely positive
• Unconfirmed rumors about new strategic advisor
The Australian drone defense specialist DroneShield has been in a deep credibility crisis since October – triggered by a series of mishaps, insider sales and an abrupt resignation at management level. This already led to a deep red November balance. December hasn’t been going any better for the company so far either.
After the DroneShield share on the Australian stock exchange had already ended December 1st with a further loss of 0.76 percent to AUD 1.965, it ultimately fell again by a significant 4.33 percent to AUD 1.88 on Tuesday, December 2nd. Over the course of four weeks, the stock has now lost more than half of its value, but since the start of the year it is still up a whopping 145.75 percent.
DroneShield continues to experience a crisis of trust
The last few weeks have severely damaged the confidence of many DroneShield shareholders: leading managers sold blocks of shares worth millions of Australian dollars, including the CEO and members of the board – a radical step in an environment already characterized by skepticism and uncertainty.
At the same time, an incorrect order report caused an additional loss of trust: a supposedly new US government order turned out to be already known – apparently an administrative error. The sudden resignation of US CEO Matt McCrann was anything but well received by shareholders.
Media reports are now circulating about DroneShield’s appointment of a strategic advisor, with which the company is supposedly responding to the recent turbulence. According to “AD HOC NEWS,” DroneShield has hired Seth Schwartz, Managing Director at JPMorgan, as a strategic advisor to “demonstrate professionalism and stabilize the situation.” However, there is currently no official indication of such a personality from the company.
It therefore remains unclear how the drone defense specialist plans to get out of its current misery – and when the share price will go up again.
Editorial team finanzen.net
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