RCAT is trading 15.5% up at $12.32 in pre-market after a Wall Street Journal report indicated the Trump administration is considering funding deals with several U.S. drone companies to boost domestic production.
- The report sparked a broad rally in the sector, identifying Red Cat as a potential funding candidate and causing its stock to surge.
- The move also builds on strong recent momentum after H.C. Wainwright initiated coverage on May 27 with a "Buy" rating and a $20 price target.