Why is the DroneShield share price crashing 31% on Thursday?
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The DroneShield Ltd (ASX: DRO) share price is getting smashed today.
Shares in the S&P/ASX 200 Index (ASX: XJO) drone defence company – which joined the ASX 200 on 22 September – closed yesterday trading for $3.28. In earlier trade, shares crashed to $2.27 each, down 30.8%.
After some likely bargain hunting, shares are currently changing hands for $2.42 apiece, down 26.2%.
That’s going to be rough news for investors who bought at, or near, the ASX defence stock’s 9 October all-time closing high of $6.60 a share, who’ll be nursing losses of 63.3% at the time of writing.
Though longer-term investors should still be sitting on some outsized gains, with the DroneShield share price still up an impressive…
