A major Australian hedge fund says DroneShield has all the hallmarks of a company on the edge and is shorting the hot defence stock after finding 17 red flags.
Plato Investment Management’s Alpha Fund manages about $2.4 billion and has been betting that DroneShield’s stock will fall since late September, sceptical about the run in the artificial intelligence-powered drone platform’s share price as smaller investors pile in.
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Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com
Anne Hyland is the Financial Review’s companies editor. She’s a former deputy editor of Good Weekend and Asia correspondent for the AFR. Email Anne at ahyland@afr.com
