XTE half yearly said an Army announcement on the UAS was...

XTE half yearly said an Army announcement on the UAS was scheduled for March. Given XTE advised a couple of weeks ago that they had submitted a tender one would expect they would say something when the result was known, even if that was they had not won. I take that to mean the decision is just late - which is not at all unusual in Defence.

As to getting the guts kicked out etc, I suspect we are seeing the effects of a thinly traded stock. Turnovers since the tender announcement have been very low which means even small selling orders can move the price down more than if turnovers were bigger. I suspect (hope) all we are seeing is people sitting back waiting to see the results of the UAS tender.