Unusual Machines, a small U.S. drone and drone component maker, experienced a significant surge in its share price of over 90% in premarket trading following the announcement that Donald Trump Jr. had joined its advisory board. The company’s CEO, Allan Evans, expressed his excitement about Trump Jr. joining the board, stating that his unique expertise will be valuable as the company aims to bring drone component manufacturing back to America.
In a statement, Trump Jr. emphasized the importance of supporting American drone manufacturing and expressed his admiration for Unusual Machines’ efforts in creating job opportunities in the USA. The company, based in Orlando, Florida, currently has a market capitalization of less than $50 million and recently reported revenues of $3.56 million for the nine months ending Sept. 30, along with a net loss of $4.86 million for the same period.
Unusual Machines’ shares hit a 52-week low of 98 cents per share, but with the recent developments, the stock price surged to over $8 per share in Wednesday morning trading. The trading volume was notably high, with nearly 5 million shares changing hands.
The decision to bring Donald Trump Jr. on board has stirred up interest in the company and its future prospects. Trump Jr.’s involvement is seen as a strategic move to leverage his experience and connections to further advance Unusual Machines’ position in the market. The move also reflects a growing trend of prioritizing domestic manufacturing and reducing reliance on Chinese drone products.
As the drone industry continues to expand and evolve, Unusual Machines’ focus on American manufacturing could give the company a competitive edge. With Trump Jr.’s guidance and support, the company is poised to capitalize on new opportunities and drive growth in the coming months.
Overall, the partnership between Donald Trump Jr. and Unusual Machines signifies a significant development in the drone industry and highlights the importance of promoting domestic manufacturing in the United States. The market response to this news indicates a positive outlook for the company’s future performance and underscores the potential for further expansion in the industry.
