Drone manufacturing company Draganfly (NASDAQ:DPRO) has seen its stock go on a rollicking rally in recent days and the trend continued yesterday as the stock ended the day with gains of as much as 41%. That took the gains made by the stock over the course of the past week to as much as 75%. In light of such gains, it may be a good time for investors to take a closer look at Draganfly.
Trading Data
On Tuesday, DPRO stock soared 41.32% to $2.36 with more than 183.84 million shares traded, compared to its average volume of 3.25 million shares. The stock moved within a range of $2.2800 – 3.8400 after opening trading at $3.14.
Draganfly Receives Order for Critical Lifesaving Drones from Revived Soldiers Ukraine for Immediate Deployment to Ukraine
The stock flew yesterday after it emerged that the company had managed to bag a major new contract. Such news can often prove to be a massive positive trigger.
Yesterday, the company sent out a press release in which it noted that it had bagged a new contract from Coldchain Delivery Systems. The contract is for as many as 200 of its Medical Response and Search and Rescue Drones.
It goes without saying that it was a major new development from the company and the reaction from the market participants was perhaps understandable. At this point in time, it remains to be seen if the stock can manage to continue to add to its gains over the coming days.
Key Quote
“We are extremely honored to work with RSU and Coldchain Delivery Systems to support those affected by the ongoing crisis in Ukraine. 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,” said Cameron Chell, CEO of Draganfly.
Technical Data
DPRO stock is trading above the 20-Day and 50-Day Moving averages of $1.50 and $1.34 respectively. However, the stock is trading below the 200-Day moving average of $3.32.
