Draganfly (OTCMKTS:DFLYF) Stock Continues to Edge Higher: Now What?

In recent times the drone sector has managed to attract the attention of investors in a big way due to the sort of growth it has generated and there are some companies that interested investors could follow.

One of the companies from the sector that could be tracked at this point is the Canadian drone and associated hardware company Draganfly (OTCMKTS:DFLYF). The Draganfly stock was flying yesterday and went up by as much as 10% in reaction to the company’s filing with the United States Securities and Exchange commission with regards to the raising of a sum of $25 million.

In its filing, Draganfly noted that it is looking to raise the amount through the offering of as many as 4.5 million shares. At the offering, the shares are going to be priced at $5.60 each and that is equivalent of the closing price of its share on July 20, 2021.

At the price that has been proposed by the company, the fully diluted market value of the company is going to hit $198 million. The development has naturally come as a bit of a boost for the stock. Investors could consider keeping the stock on their watch lists in the coming days.

Market Reaction:

On Thursday, DFLYF stock was up 10.39% at $1.27 with more than 2.27 million shares, compared to its average volume of 412k shares. The stock has moved within a range of $1.1650 – 1.4900 after opening the trade at $1.20. Over the past 52-week, the stock has been trading within a range of $0.7700 – 3.3400.