China Targets NASDAQ: RCAT and NYSE: MP Pre-Market—But Just One Shares Drops
Red Cat Holdings slipped 0.79% to $11.35, down $0.09 pre-market, after China announced an immediate halt on dual-use exports to Red Cat and its Teal Drones arm. The move hit before the Wall Street open, with Beijing’s ban coming into thin trading—so sanctions terms moved the price before investors checked true supply-chain ties. MP Materials was also listed in the order, but shares climbed 1.02% to $61.50 in the same Public feed snapshot. That 1.81-percentage-point split says the selloff wasn’t across the board. Market sorted it fast by business model. Regulatory news after Thursday’s close, not operational. China’s Commerce Ministry put out Announcement No. 23 of 2026, moving 10 more U.S. entities to its export-control list and told shippers to halt deliveries right away. The ban also applies to third parties outside China if they send Chinese-origin controlled goods to any of the listed targets. Red Cat Holdings and Teal Drones were called out on the list, giving automated news screens two clear entity hits.