Business
Why the DroneShield (ASX:DRO) share price shot up 10% today // Motley Fool Australia
The DroneShield Ltd (ASX: DRO) share price is climbing higher after announcing a new research & development (R&D) contract today.
In mid-morning trade, shares in the defence contractor shot up 10.5% to a high of 21 cents, before retreating slightly to 20 cents at the time of writing. In comparison, the All Ordinaries Index (ASX: XAO) is flat at 6,617 points.
Let’s take a look at what exactly is fuelling the DroneShield share price rise.
New contract win
DroneShield advised that it received an R&D contract related to its artificial intelligence/machine learning algorithms.
The company did not reveal which country placed the order, but said that it was from a defence department of a ‘Five Eyes’ country. The term ‘Five Eyes’…
-
Business22 hours agoWhy the Betashares Nasdaq 100 ETF could be a perfect buy and hold pick
-
Noosa News21 hours agoNew FLC President has regional lens – Proctor
-
Business23 hours agoDoes Macquarie rate BHP shares a buy after its FY25 results?
-
General18 hours agoMigrants raise concerns over Australia’s English tests for visa applicants