Red Cat Holdings, Inc. (RCAT) is experiencing a significant surge in its stock price today, driven by increased media attention on drone stocks. The stock opened at $12.16, up from its previous close of $11.89, and has continued to climb throughout the trading session. The heightened interest in drone technology, particularly in the context of military applications, has likely contributed to the positive sentiment surrounding Red Cat, a company known for its advanced drone solutions.
Additionally, recent unusual options activity has been observed in Red Cat Holdings, with a notable volume of call options being traded. This activity suggests that investors are positioning themselves for potential upward movement in the stock, further fueling the bullish momentum. The options trades have been concentrated in a price range from $7.00 to $15.00, indicating expectations of continued volatility and potential gains.
As of 12:00 pm on Thursday, Red Cat Holdings' stock is trading at $13.78, marking a 15.92% increase from its previous close of $11.89 and a 13.35% rise from its opening price of $12.16.