Why AgEagle Aerial Systems Stock Fell in February
Shares of AgEagle Aerial Systems (NYSEMKT: UAVS) fell 17.1% in February, according to data provided by S&P Global Market Intelligence, weighed down by a short-seller report that raised questions about the business. The stock was actually up more than 50% for the month prior to the report, but fell dramatically in the days after.
AgEagle, a drone manufacturer focused primarily on agriculture, has had a meteoric rise over the past year. Just 12 months ago it was a penny stock, valued by the market at less than $10 million. But that all changed last summer when investors bought in to talk that the company could be working with Amazon on a retail delivery drone.
Source Fool.com
