Ondas shares are surging Thursday morning as traders lean into defense-and-drones optimism and a risk-on pocket of small-cap momentum.

Ondas Holdings (NASDAQ:ONDS) stock rallies Tuesday after Needham analysts maintain a $23 price forecast, highlighting the profitable Omnisys defense software acquisition.

Trump administration considers taking equity stakes in domestic drone firms. ONDS, UMAC, RCAT and AVAV stocks soar.