DroneShield CEO’s Share Sale Triggers Stock’s Worst Day Ever (2)

DroneShield Ltd.’s stock plunged the most on record after Chief Executive Officer Oleg Vornik sold A$49.5 million ($32 million) worth of shares in the Australian defense company.

The Sydney-based counter drone firm slumped 31% after Vornik sold 14.8 million shares between Nov. 6 and Nov. 12, according to an exchange filing — part of a parcel of performance options that became payable on Nov. 5.

While the company has lost almost two-thirds of its value from an Oct. 9 peak, it’s still up almost 200% this year amid an explosion of interest from retail traders swept up in its ...