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We recently published 10 Stocks Facing Selling Pressure Ahead of Christmas. Ondas Holdings Inc. (NASDAQ:ONDS) is one of the biggest losers on Monday.
Ondas Holdings fell by 12.11 percent on Monday to close at $7.69 apiece as investors unloaded portfolios following the resignation of one of its board members, effective immediately.
In a regulatory filing on Friday, Ondas Holdings Inc. (NASDAQ:ONDS) said that Ron Stern, who was appointed director and only joined the board of directors in January this year, stepped down from his post effective on Friday, December 12.
Investors took the news in a negative light despite Ondas Holdings Inc.’s (NASDAQ:ONDS) announcement that the resignation was not a result of any company disagreement.
In connection with the resignation, the Directorship Agreement dated January 6 has also been terminated.
Stern’s resignation followed his disposal of all his 850,000 shares in the company on November 26 at a price of $7.9123 for a total of $6.7 million.
In other news, Ondas Holdings Inc. (NASDAQ:ONDS) last week announced its intention to invest $11 million in Drone Fight Group, a Ukrainian developer of advanced unmanned aerial systems, through its strategic advisory and investment platform, Ondas Capital.
DFG is a fast-scaling innovator in high-performance unmanned systems that have been forged and refined through intense combat in Ukraine. DFG’s platforms include strike-optimized FPV systems, ISR drones, autonomous mission technologies, and cutting-edge drone simulators.
While we acknowledge the potential of ONDS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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