BUZZ-Drone firm Red Cat slips on Fuzzy Panda short report
Reuters
Oct 10
BUZZ-Drone firm <a href="https://laohu8.com/S/RCAT">Red Cat</a> slips on Fuzzy Panda short report
** Shares of Red Cat Holdings RCAT.O fall 4.8% to $14 in early trade
** Fuzzy Panda Research discloses short position in RCAT
** Says co uses paid stock promotion and that management has misled investors; adds RCAT has a "big guidance miss" coming
** Says product images of co's new drone "FANG" are made with Chinese parts and another co's old drone
** Reuters could not independently verify claims made by Fuzzy Panda Research; RCAT did not immediately respond to a request for comment
** Median PT of 4 brokerages covering RCAT is $16 - LSEG data
** As of last close, stock up 14% YTD
(Reporting by Anshuman Tripathy)
((Anshuman.Tripathy@thomsonreuters.com))
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