Ondas investors are blaming short-sellers for the company’s high number of fails-to-deliver. During the second half of August, Ondas recorded the highest number of undelivered shares in the United States, with 20,954,097 shares undelivered the Monday following its quarterly earnings release. The company, a defense drone maker partnered with Palantir, has short interest representing 40.9% of its float, up from just 4% a year ago. Despite quarterly revenue of $83.8 million and annual revenue targets exceeding $525 million, the stock has lost 22% of its value since the start of the year.
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