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BUZZ-Australia's DroneShield hits 5-1/2-month low as selloff continues

Reuters
Nov 24
BUZZ-Australia's DroneShield hits 5-1/2-month low as selloff continues

** DroneShield DRO.AX shares extend losses, sliding as much as 5.3% to A$1.625, their weakest level since June 12

** Stock heads for a fifth straight session of loss, among top losers on the ASX200 .AXJO, which is up nearly 1%

** Counter-drone tech firm saysits VP of sales and business development, Tom Branstetter, will take on an expanded role to lead U.S. operations on an interim basis

** Stock sank 9.3% on Friday, deepening a two-week slide after executive stake sales, a contract disclosure error and the abrupt exit of its U.S. chief

** Stock has more than doubled in value this year

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))

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