Do you really think SP would have gone up 7% today if there was insider trading around this news? If this news was actually bad, and a leak did cause the 10% drop yesterday, then it would have dropped even further today once the public found out. There was 2.2m volume today. If it was bad news, SP would have dropped further. I'll tell you what caused the 10% drop - panic selling. EOS/DRO sentiment has been in the bin since Trump got elected, and the EU announced joint C-UAS development ventures on Wednesday.
Anyway, I had a look back and found out EOS bought EMS in 2019 for only $1.485m cash and 4.27m new EOS shares - so the profit is greater than we thought. See below:
Also, at 30 June 2024, NTA was $183m. Probably safe to assume NTA is well above the current market cap of $218m.
Very positive news as long as the company can actually become profitable in the coming years.
EOS Price at posting:
$1.13 Sentiment: Buy Disclosure: Held
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