It's tech developer conference season. Hot on the heels of Google I/O and just ahead of Apple's WWDC, here comes Microsoft's developer conference, Build. Like virtually all of these events for the past few years, we expect the Windows-maker to focus a lot on AI.
Trump's drone push has investors scrambling for exposure. Shares of Ondas Holdings (ONDAS), Unusual Machines (UMAC), Kratos Defense & Security Solutions (KTOS) and Red Cat Holdings (RCAT) surged after reports that the Pentagon is exploring funding deals with drone manufacturers, but Wall Street sees one stock offering significantly more upside than the rest.
Some of America’s wealthiest couples are collecting more than $100,000 in yearly Social Security benefits, but a new proposal suggests capping that total. Partly due to the Trump administration’s changes, including a bump in benefits, the Social Security trust fund is projected to be depleted in 2032. This may be a way to help extend it.
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Unusual Machines (UMAC) stock surged 58% intraday on Pentagon talks about direct federal equity stakes in drone makers, while Red Cat Holdings (RCAT) stock rose 34%, AeroVironment (AVAV) stock climbed 17%, and Kratos Defense & Security Solutions (KTOS) stock gained 14%.
Drone stocks caught a powerful bid Thursday after reports said the Trump administration is exploring possible funding deals with a group of companies to expand domestic drone production and bring costs lower. Unusual Machines (UMAC), a drone-parts maker backed by Donald Trump Jr., closed 57% higher at an all-time high.
Shares of drone-parts maker Unusual Machines (UMAC) climbed by 57.2% intraday on May 28 after a report stated that the Trump administration is planning to fund the company.
The vessel can be customized with different sensors, payloads, and communication systems based on mission needs, the company said.
RCAT stock breached its 100-DMA for the first time in over a month.
Drone stocks have seen strong gains after The Wall Street Journal reported that the U.S. government is considering financial support for domestic defense technology firms.
The United States and Iran are engaged in peace negotiations but both countries are coming up with different versions of the proposal.