Draganfly (NASDAQ:DPRO) stock is climbing higher on Monday after the unmanned drones company announced a strategic partnership with The Institute for Drone Technology.
This partnership will see The Institute for Drone Technology act as a distributor of Draganfly’s drones in Australia. That’s a win for DPRO stock, which distributes to the Australian government and enterprise sectors.
This partnership will see Draganfly participate in the Land Forces International Land Defence Exposition in September. This will give it a chance to show off its drones to contractors in the country.
Cameron Chell, president and CEO of Draganfly, said the following about this partnership:
“We are thrilled to partner with The Institute for Drone Technology, a recognized leader in the Australian drone market. This collaboration will enable us to better serve the significant and growing demand for our products within Australia.”
DPRO Stock Movement Today
With this partnership comes increased interest in DPRO shares, which brings with it heavy trading of the stock. As of this writing, more than 198 million units have changed hands, well above its daily average trading volume of about 926,000 shares.
DPRO stock is up 36.6% as of Monday afternoon.
There are more stock market stories ready to go down below!
We have all of the hottest stock market news traders need to know about on Monday! Among that is what has shares of KeyBank (NYSE:KEY), Archer Aviation (NYSE:ACHR) and Revance Therapeutics (NASDAQ:RVNC) stock in the news today. All of that info is ready to go at the following links!
More Stock Market News for Monday
- KEY Stock Surge Alert: What’s Going On With KeyCorp Shares Today?
- ACHR Stock: 3 Things for Investors to Know About the $370 Million Stellantis Deal
- Why Is Revance Therapeutics (RVNC) Stock Up 86% Today?
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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.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
