Shares of Red Cat Holdings, Inc. are experiencing a significant decline during trading hours on December 27th, following insider selling activities. The company's Chief Revenue Officer, Geoffrey Wayne Hitchcock, sold 113,823 shares, while CEO Jeffrey M. Thompson sold 28,756 shares on December 26th. These transactions have raised concerns among investors, contributing to the stock's downward pressure. The insider sales have been substantial, with Hitchcock's transaction representing a 16.93% decrease in his ownership, and Thompson's sales marking a 0.22% reduction in his holdings.
Red Cat Holdings' stock is currently trading at $12.11, down 9.73% from its previous close of $13.41. The stock opened at $14.00 and has seen a 13.54% decrease from the opening price.