08:34 AM EDT, 10/08/2024 (MT Newswires) -- Laser Photonics ( LASE ) said Tuesday that the "excitement" due to the Laser Shield Anti-Drone System concept resulted in "significant" stock volatility last month with its share price movement gathering short sellers' attention.

The company recently came across a short report where the author took a short position and attempted to "manipulate" the stock price, Laser said, adding that the "individual is not involved in the Company's day-to-day operations" and the report was based on allegations.

Additionally, Laser said that the short report was published after short-positioning to push the stock price downward for "personal gain."

The company also said it continues to increase its market footprint across both current and new verticals.

Shares of the company were down 1.2% in recent Tuesday premarket activity.

Price: 4.2700, Change: -0.05, Percent Change: -1.16