BUZZ-Drone technology firm Red Cat falls after Kerrisdale takes short position

Shares of Red Cat Holdings RCAT.O down 8% to $10

Kerrisdale Capital says it has taken a short position in RCAT

Investment firm adds that the drone technology firm has been "misleading investors about its manufacturing capacity for years"

RCAT's declarations and projections rarely materialize, and believe the same will be true of both its 2025 guidance and the parameters of a US Army short range reconnaissance contract - Kerrisdale

"Having set almost impossible expectations, Red Cat is set to be blown out of the sky" - Kerrisdale

(Reporting by Juby Anna Babu in Mexico City)

((Juby.Babu@thomsonreuters.com;))