Dragonfly Energy Stock Climbs After Battery Lawsuit Filing, But Cash Burn Clouds the Bounce
Dragonfly Energy shares rose 5.6% to $2.09 Thursday after the company filed a trade-libel lawsuit in Nevada against YouTuber Will Prowse and his business. The battery maker alleged Prowse published monetized, misleading reviews of its Battle Born Batteries and sought damages and injunctive relief. Dragonfly reported a first-quarter net loss of $7.7 million on sales down 27%. The stock traded between $1.97 and $2.13.