Drone CEO Unfazed After Missing Out on Meme Stock’s 500% Rally

When DroneShield Ltd. Chief Executive Officer Oleg Vornik sold his entire holding in the company he spent nearly a decade building, he had no idea that the Australian defense firm was about to be swept up in meme stock mania.

It was early 2024 when Vornik offloaded his more than 10 million-share stake just as DroneShield’s stock hit a record high amid the escalating war in Ukraine. Since then, the company’s valuation has swelled and its shares this year surged more than 500%, making it the best performer in a gauge of defense shares thanks to increased popularity from day traders.