DroneShield (ASX: DRO) hit a new 52-week high last night of $0.23 per share for a gain of 15% from NIA's Friday evening suggestion price of $0.20 per share, but then saw healthy profit taking and dipped to close at $0.205 per share to successfully fill in its Tuesday gap up. DRO's volume on Wednesday of 5,156,595 shares was its highest volume day in eight months.
Do NOT buy DRO's U.S. OTC symbol DRSHF because it is not liquid like the ASX market. Unfortunately, just like we feared, somebody bought a large amount of DRSHF yesterday and overpaid for the stock. The AUD/USD exchange rate is 0.7566. It is easy to calculate what the proper share price of DRSHF should be.
DRO's main competitor DeDrone raised $30.5 million in VC funding on December 17, 2021, at a valuation estimate of US$122-$183 million. Based on Google Trends data, DeDrone is slightly larger than DRO in the U.S. market, but DRO is a larger company on an international basis. Much higher new 52-week highs are coming for DRO in the weeks ahead. DRO's current market cap is only US$67.13 million.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. This message is meant for informational and educational purposes only and does not provide investment advice.
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