BUZZ-Unusual Machines rallies on funding talks report, lifts drone peers
RED CAT HOLDINGS RCAT | 0.00 | |
AeroVironment, Inc. AVAV | 0.00 | |
AEVEX Corp. Class A AVEX | 0.00 | |
Unusual Machines UMAC | 0.00 | |
Swarmer, Inc. SWMR | 0.00 |
Updates
** Unusual Machines UMAC.A shares rally 35.9% to $25.58 in pre-market trade after the WSJ reported the Trump administration is in talks to fund some drone cos, including UMAC
** The report, citing sources, said months-long discussions could result in funding via a mix of debt and equity, potentially giving the govt ownership stakes
** Drone peers rally across the board, led by Red Cat RCAT.O up 13%, with Kratos Defense KTOS.O up 8.2%, AeroVironment AVAV.O gaining 7.3%, AEVEX AVEX.N rising 3.3% and Swarmer SWMR.O advancing 7.5%
** Drone dominance was identified as a top presidential priority in President Trump's $1.5 trln defense budget request for fiscal year 2027
** Reuters could not immediately verify the report. The White House, the Pentagon and UMAC did not immediately respond to Reuters' requests for comment
** All five analysts covering UMAC rate it 'buy' or 'strong buy', and their median price target is $25.00, according to LSEG data
** UMAC's stock has jumped about 47.8% YTD, far outpacing a 9.9% rise in the S&P 500 .SPX