Why AgEagle Aerial Systems Stock Is Up Today
Shares of AgEagle Aerial Systems (NYSEMKT: UAVS) jumped as much as 27% on Friday morning after the drone maker said its subsidiary had been selected, along with other vendors, to work with the Defense Department. There appears to be no new revenue coming from the selection for now, but in time, it could open up new possibilities for the young company.
It's been a remarkable couple of years for AgEagle, which just over a year ago was a penny stock valued by the market at less than $10 million. Its market capitalization jumped to nearly $1 billion earlier this year on rumors AgEagle was working with Amazon on a retail delivery drone.
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Source Fool.com
