Draganfly: New Order For Ukraine Is Not A Gamechanger (NASDAQ:DPRO)
In going through the top trending stocks on Fintwit, I was surprised to find there a nano cap I covered on SA in July 2021 – Draganfly (NASDAQ: NASDAQ:DPRO).
The company’s market valuation rose by over 40% on March 22, at one point even surpassing $3.70 per share. The likely reason behind this move is a new order for medical response and search and rescue drones for delivery to a non-profit organization in Ukraine. In my view, the order is too small to make a dent in the company’s loss and I think this sudden retail investor interest in Draganfly creates a good short-selling opportunity. Let’s review.
The Ukraine order and Draganfly’s financials
The order includes a total of 10 drones for Coldchain Delivery Systems, with immediate deployment with Revived Soldiers Ukraine. The latter is a non-profit organization focusing on medical response and rehabilitation of injured troops in Ukraine. Draganfly added that the…