Discover high-conviction stock picks and new investing opportunities with the TipRanks Smart Investor Newsletter
The latest report mentioned Unusual Machines by name, and Ondas has also made efforts to increase its defensive drone manufacturing. Both companies would likely benefit from direct funding, as the U.S. looks to focus on autonomous weapons. This push comes at a time when the U.S. is engaged in a conflict with Iran. That conflict has resulted in increased interest in shipping and oil companies due to the closure of the Strait of Hormuz shipping route.
Traders will also note that Unusual Machines is connected to President Trump’s family. His son, Donald Trump Jr., holds a stake in UMAC stock and is also a member of the company’s board.
Drone Stock Movements Today
News of the possible drone funding was a strong catalyst for Ondas and Unusual Machines. This sent their shares higher today.
