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Benzinga
Benzinga
Business
Dylan Berman

Red Cat Shares Are Trading Higher Thursday: What's Going On?

Red Cat NATO RCAT Drone
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Red Cat Holdings, Inc. (NASDAQ:RCAT) shares are trading higher Thursday after the company announced that its subsidiary, Teal Drones, has been approved and added to NATO support and procurement agency catalogue.

What To Know: The Black Widow System, developed by Teal Drones, is now included in the NATO Support and Procurement Agency (NSPA) catalogue. The designation allows NATO member nations and eligible partners to procure the drone system through NSPA-managed channels, including direct catalogue ordering and sponsored tenders.

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