- The company announced that it received an order of 10 drones for Ukraine that can be increased to 200 units and its market valuation soared by 40% a single day.
- However, those 200 drones cost about $6 million and Draganfly booked an operating loss of $6.36 million in Q3 2021 alone.
- In my view, the new order won’t significantly change the company’s fundamentals, and I remain bearish.
- I think that the share price is likely to decline below $1.10 once again as retail investor interest fades off.
For further details see:
Draganfly: The New Order For Ukraine Is Not A Gamechanger And I'm Bearish