Q: Kraken Robotics shares lost 10% in Thursday's trading on a day when most defence stocks closed higher ( Even with DOW and Nasdaq closing in red ).
What could be behind the selling ? Should we be concerned ?
With Anduril Inc, expected to go public, some time this year, my impression has been that PNG should be acting strong ( as a proxy ). Your thoughts, please.
Thank You
What could be behind the selling ? Should we be concerned ?
With Anduril Inc, expected to go public, some time this year, my impression has been that PNG should be acting strong ( as a proxy ). Your thoughts, please.
Thank You
5i Research Answer:
It was a very tough day for a lot of growth companies. PNG had no news. As a stock up 172% in a year, and still fairly small, investors find it easy to sell and take profits on a bad market day. We would not read too much into this. There were many stocks today down more than 9%. We would consider it fairly normal small cap activity after such big gains and have no reason to be concerned beyond the usual market worries.