Drone Delivery Canada (CVE:FLT) Stock Price Down 8.4% - What's Next?

Key Points

• Drone Delivery Canada Corp. shares dropped 8.4% on Friday, closing at C$0.76 after trading as low as C$0.73 amidst a significant increase in trading volume.
• The company has a market capitalization of C$437.22 million and operates with a high debt-to-equity ratio of 67.19, reflecting potential financial instability.
• Drone Delivery Canada focuses on designing and implementing a commercial drone-based logistics platform for both domestic and international markets.

Shares of Drone Delivery Canada Corp. (CVE:FLT - ) fell 8.4% on Friday . The stock traded as low as C$0.73 and last traded at C$0.76. 4,707,105 shares traded hands during mid-day trading, an increase of 161% from the average session volume of 1,805,106 shares. The stock had previously closed at C$0.83.

Drone Delivery Canada Stock Performance

The firm has a 50 day moving average price of C$0.59 and a two-hundred day moving average price of C$0.38. The company has a debt-to-equity ratio of 67.19, a quick ratio of 9.02 and a current ratio of 0.46. The company has a market capitalization of C$437.22 million, a P/E ratio of -25.33 and a beta of 2.39.

About Drone Delivery Canada

Drone Delivery Canada Corp. designs, develops, and implements a commercial drone-based logistics platform in Canada and internationally. The company's logistics infrastructure solution is an integrated turnkey logistics platform, which include industrial-grade drones, automated DroneSpot depots, automated battery management systems, a detect and avoid radar system, and proprietary FLYTE software to integrate various components into a solution.

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