Unusual Machines Stock Rallies 10% After Company Wins Defense Drone Order From Red Cat
Synopsis
The agreement includes delivery of multiple advanced components that will be integrated into Red Cat’s FANG drone platform, a system designed for military and government use.
Unusual Machines Inc. (UMAC) announced on Friday that it has secured a new $800,000 contract from fellow drone technology company Red Cat Holdings Inc. (RCAT).
The agreement includes delivery of multiple advanced components that will be integrated into Red Cat’s FANG drone platform, a system designed for military and government use.
Following the announcement, Unusual Machines’ stock traded over 8% higher in Friday’s premarket. On Stocktwits, retail sentiment around the stock remained in ‘bullish’ territory amid ‘high’ message volume levels.
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