Red Cat Extends Gains After Winning US Army Drone Contract

Red Cat Holdings Inc. shares rise as much as 26% on Friday trading. The drone technology company’s stock is extending gains after it said it was selected as the winner of the US Army’s Short Range Reconnaissance (SRR) Program of Record through its Teal Drones subsidiary.

The company also expanded its partnership for Teal Drones with artificial intelligence software developer, Palladyne AI. Palladyne Pilot AI software is expected to be available for all sUAS systems, or smaller and lightweight drones, delivered to the Army by Red Cat.

• Red Cat shares are up 729% this year through Thursday’s close
  • NOTE: Red ...