Draganfly (NASDAQ:DPRO) stock is flying higher on Tuesday following news of a major contract for the drone company.
A new press release from Draganfly reveals that Coldchain Delivery Systems has signed a contract for up to 200 of its Medical Response and Search and Rescue Drones. These will be deployed to the Revived Soldiers Ukraine (RSU after delivery.
The first round will include 10 drones in total, as well as an additional three being donated to RSU by Draganfly. These drones are equipped with Medical Response Payload Boxes. Each of them can carry 35 pounds of medical supplies.
The boxes carried by the drones are unique in that they offer temperature management. This allows them to carry vital supplies for wounded individuals, such as “blood, pharmaceuticals, insulin/medicines, vaccines, water, and wound care kits.”
Cameron Chell, CEO of Draganfly, said the following in today’s news release.
“Draganfly has a long and proud history of supporting EMS services and humanitarian aid operations globally. Our Medical Response and Search and Rescue Drones will help RSU deliver critical supplies, equipment, and visual oversight.”
News of the order has brought extra interest to DPRO stock with increased trading volume today. That has some 115 million shares of the stock on the move as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 205,000 shares.
DPRO stock is up 90.1% as of Tuesday morning.
Investors looking for more stock market news are in the right place!
InvestorPlace has all the latest stock news that traders need to know about for today. A few examples include why Alibaba (NYSE:BABA) stock is rising, the news hitting Upstart (NASDAQ:UPST) stock, as well as Okta (NASDAQ:OKTA) data breach details. You can find all of that news at the following links!
More Stock Market News for Tuesday
- Why Is Alibaba (BABA) Stock Up Today?
- UPST Stock Alert: Why One Analyst Is Lowering His Upstart Price Target to $75
- Okta Breach 2022: 17 Things for OKTA Stock Investors to Know About the Lapsus$ Hack
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
