$UMAC Something interesting about yesterday's drop.
Look at the companies connected through the Dominari financing/investment ecosystem:
$UMAC -11%
$PUSA -18%
$DPRO -10%
$XTND -7%
Meanwhile, unrelated drone names like RCAT, ONDS, UAVS, etc. weren't experiencing anything close to the same liquidation.
I went looking for a common fundamental failure and couldn't find one. XTEND actually placed
#3 in Drone Dominance Gauntlet II. corresponding to 6,000 units. No new UMAC contract loss, XTEND failure, or obvious industry event explains the group getting smoked together.
But Dominari's financials are ugly.
Latest reported H1 numbers: • $62.8M net loss
• $38.8M operating cash burn
• Cash ~$25M
• Marketable securities ~$2.4M, down from $46.5M at YE
• Equity ~$21.9M, down from $69.4M
• ~$7.1M realized losses on marketable securities
Dominari and related investment/SPV structures Dominari has also been directly involved in raising capital for UMAC, XTEND/JFB and Powerus/Aureus.