Drone stocks surge after Pentagon orders ramp up in production
Investing.com -- Shares of drone-related companies jumped in premarket trading on Friday following a Fox News report that Defense Secretary Pete Hegseth has ordered an increase in drone production and deployment.
According to the report, Hegseth’s directives allow military commanders to procure and test both 3D-printed prototypes and commercially available drone models.
Several stocks in the sector showed significant gains before market open.
Red Cat shares climbed 12%, while AeroVironment (NASDAQ:AVAV) rose 4.3%. Kratos Defense & (NASDAQ:KTOS) Security Solutions also moved higher, advancing 3.3% in premarket activity.
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