Headline: DRO: DroneShield responds to Rodney Forrest, courts James Paterson
Introduction:
• The article starts by introducing Rodney Forrest, a controversial investor, and his impact on the share price of DroneShield.
• Forrest has been previously described as a "peacocking investor" who enjoys attention and making noise about his investments.Forrest's Critique:
• Forrest criticized DroneShield's valuation, calling it "wild" and potentially disastrous.
• His reason: DroneShield's price-to-earnings multiple was (and remains) very high.
DroneShield's Response:
• DroneShield's share price dropped significantly after Forrest's comments.
• DroneShield's CEO, Oleg Vornik, blamed Forrest for the decline, claiming his comments triggered selling.
• Vornik also defended his own past decision to sell his shares, which he claims was unrelated to Forrest's critique.
• Vornik dismissed Forrest's claims about new information, stating that nothing new was revealed at the time of the article's publication.
Analysis of Share Price Drop:
• The article notes that Forrest's short position was small and likely didn't solely cause the share price drop.
• It suggests that DroneShield's retail investor base, which was waiting for a reason to sell, might have been influenced by Forrest's comments.
Forrest's Silence:
• Forrest has deactivated his social media accounts, possibly to avoid further controversy.
• The article suggests he might be trying to adopt a more low-key persona similar to Michael Burry, a famous hedge fund manager.
DroneShield's Political Strategy:
• The article highlights DroneShield's efforts to gain political support, particularly from James Paterson.
• DroneShield features photos of politicians using their products in their quarterly production reports.
• James Paterson's visit to DroneShield is mentioned as an example of their political outreach.
Conclusion:
• The article concludes by summarizing the situation as a clash between Forrest and DroneShield.
• It raises ethical questions about Forrest's investment strategy and its potential to manipulate retail investors.
Author Bio:
• The article includes a short biography of Myriam Robin, the author.
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Last
$1.29 |
Change
0.115(9.83%) |
Mkt cap ! $1.120B |
Open | High | Low | Value | Volume |
$1.20 | $1.31 | $1.19 | $22.91M | 18.13M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 154000 | $1.28 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.29 | 3797 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 154000 | 1.280 |
5 | 189748 | 1.275 |
11 | 89605 | 1.270 |
1 | 275 | 1.265 |
3 | 139716 | 1.260 |
Price($) | Vol. | No. |
---|---|---|
1.285 | 3797 | 1 |
1.290 | 16359 | 2 |
1.295 | 106800 | 2 |
1.300 | 74499 | 8 |
1.310 | 64898 | 8 |
Last trade - 16.10pm 28/08/2024 (20 minute delay) ? |
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