Red Cat Holdings (NASDAQ:RCAT) jumped 9% in premarket trading Thursday after the company announced that its Black Widow drone system has been officially added to the NATO Support and Procurement Agency (NSPA) catalog.
In a press statement, the company said, “while the designation facilitates procurement opportunities, specific quantities, configurations, and delivery timelines are determined by end users through NSPA’s standard processes.”
Even with the early gains on Thursday, Red Cat shares are still down over 30% for the year.
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