FuzzyPanda Research short Red Cat after ‘finally’ getting Army contract

FuzzyPanda Research is short Red Cat (RCAT) as it believes “that the best time to short a paid stock promotion is when it finally has to deliver results.” In a recently published report, FuzzyPanda says that “CEO Jeff Thompson prematurely announced Red Cat had won the Army’s SRR Tranche 2 program in November… And when Thompson finally announced on Thursday that Red Cat had signed its Low-Rate Initial Production starter contract, it turned out to be for 690 drone systems – 46% smaller than what Jeff promised to investors back in February 2025… Jeff also keeps telling investors the Army revenue is guaranteed and that the entire Army SRR T2 budget will go to Red Cat. But Jeff is obscuring that the Army is not monogamous. The Army SRR T2 program is actually NOT sole sourced.”