Draganfly Inc. (NASDAQ:DPRO) soared 24%. Recently the company announced that an overview of the company with its CEO and Chairman Cameron Chell would be broadcast in The RedChip Money Report of Bloomberg TV.
It is important to note that Bloomberg TV is available to over 73 million in the US. Investor relations and media company RedChip Companies Inc. produces the RedChip Money Report, and the company has over three decades of experience aimed at Discovering Tomorrow’s Blue Chips Today. The report offers insightful information on small-cap investments, financial bok reviews, and Wall Street analysts’ interviews.
The company reported record revenue in Q2 2021, with revenue growing 113.9% to around $1.982 million from $926,540 in Q2 2020. Most of the revenue was from product sales with drone and engineering services revenue accounting for the rest of the revenue in Q2.Draganfly saw a 68.9% increase in gross profit with a gross margin of36.8% relative to 46.6% a year ago. Total loss during the quarter was $8.1 million relative to $1 million in the same quarter last year. With a solid cash position, DPRO is worth keeping an eye on.
Market Reaction:
On Friday, DPRO stock moved up 24% at $3.81 with more than 8.18 million shares, compared to its average volume of 537K shares. The stock has moved within a range of $3.0772 – 4.1100 after opening the trade at $3.21.
