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Benzinga
Benzinga
Business
Dylan Berman

Red Cat Stock Is Moving Higher Monday: What's Going On?

Red Cat Pete Hegseth RCAT Drone
Military,Kamikaze,Drones,With,Aerial,Bombs,Fly,In,Front,Of

Red Cat Holdings, Inc. (NASDAQ:RCAT) shares are trading higher Monday on possible continued momentum after Secretary of Defense Pete Hegseth announced efforts to fast track drone production.

What To Know: On Thursday, Hegseth issued a directive allowing military commanders at the rank of colonel or Navy captain and above to independently purchase and test small drones—specifically Group 1 and 2 unmanned aircraft systems.

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