Red Cat Holdings (RCAT) is experiencing a decline in its stock price today, which may be attributed to a significant increase in its borrow rate. The latest data indicates that RCAT's borrow rate has surged by 31.77%, marking an increase of 6.76 percentage points. This rise in borrow rate can signal increased short-selling activity, as higher borrow rates often reflect greater demand to short the stock. Such activity can exert downward pressure on the stock price as investors bet against the company's future performance.
The current price of Red Cat Holdings is $12.07, reflecting a decrease of 6.07% from its previous close of $12.85. The stock opened at $12.89 and has seen a decline of 6.36% from the opening price.