ParaZero Technologies (NASDAQ:PRZO) stock is rocketing higher on Monday as the drone company’s shares continue a rally from Friday.
The big news that saw shares of PRZO stock soaring higher on Friday had to do with the approval of drone flights in Australia. This was for its local partner, OVRL, which makes use of the company’s ParaZero safety systems on its drones.
Australia’s approval covers commercial drone flights made by OVRL in the country. It’s the first such drone approval that’s been handed out and has investors in PRZO stock excited about what it means for the future of drone development.
Recent PRZO Stock Movement
News of the drone flight approval initially sent shares of PRZO stock rising on Friday. That saw the stock jump 79%, with some 124 million shares having been traded. For the record, the company’s daily average trading volume is about 3.7 million shares.
As for today’s stock movement, roughly 8.9 million shares of the stock have changed hands. That’s already above the company’s daily average trading volume, and the opening bell hasn’t rung yet. It also has PRZO stock up 62% as of Monday morning. Investors will note shares of PRZO stock were down 67.8% year-to-date as of Friday’s close.
Investors looking for even more of the most recent stock market stories today are going to want to stick around!
We’re covering all of the latest stock market news that traders need to know about on Monday! That includes a list of the biggest pre-market stock movers this morning, Jim Cramer’s picks for yield stocks and more. All of that news is ready to go at the links below!
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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.
