Why Unusual Machines Stock Popped Today
Unusual Machines (NYSEMKT: UMAC) stock jumped 13.1% through 3:30 p.m. ET Thursday after Needham analyst Austin Bohlig raised his price target on the drone stock by 36%, to $30 per share.
Image source: Getty Images.
Demand for U.S.-produced drone components "continues to far exceed available supply," reports Needham -- and is still growing. As the only (that I know of) pure-play, publicly traded supplier of low-cost drone parts based in the United States, Unusual Machines is a likely primary beneficiary of U.S. legislation that, since December last year, has banned the import of critical drone components from foreign sources.
Source Fool.com
