$Ouster(OUST.US) rose slightly, $Serve Robotics(SERV.US) fell about three percentage points, $Red Cat(RCAT.US) fell four or five percentage points—these three stocks in lidar, service robotics, and drones are moving very divergently.

All belonging to the robotics and automation theme, $Ouster(OUST.US) is relatively resilient due to order visibility from its lidar business. Pure concept small caps like Serve and $Red Cat(RCAT.US) get hammered when they lack catalysts. Is this divergence the start of a split based on fundamental strength within the sector, or just random volatility of small caps? It looks more like the former is just beginning—those with orders and a path to mass production will gradually outperform those that are just telling stories.