Although the UAV Corp (OTCMKTS:UMAV) stock suffered yesterday and went down by as much as 6% for the day, it ought to be noted that the company made a major announcement yesterday that could have significant ramifications with regards to its future.
Technical Data
UMAV stock is trading below the 20-Day and 50-Day Moving averages of $0.0882 and $0.0919 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1050.
Key Details
The company announced yesterday that its Skyborne Technology actually cleared the inspection process that had been undertaken by the Florida Department of Transportation Aviation Office. The technology is going to be deployed in flight tests that are going to take place for the Lighter Than Air Detachable Drone. The drone is going to be taken through a last inflation test during the week that starts on May 1, 2022.
Following that, the first test flights are going to be undertaken by the company and those are going to commence at some point in June this year. It goes without saying that the latest announcement from the company is expected to create significant interest among investors and it is going to be interesting to see if the UAV Corp sock can come into the reckoning among investors or not. It may be a good idea for investors to keep an eye on the stock and watch for a rebound.
Key Quote
“Even though this has been a much longer journey than we planned for, it is exciting to see the investments that UMAV have made in our new technology and the airport with additional increased value expected once the planned infrastructure improvements are completed. This shows the value of our public /private partnership with Gulf County and Gulf Coast State College are paying off for both our investors and shareholders “stated Billy Robinson, Chairman.
Technical Data
UMAV stock is trading below the 20-Day and 50-Day Moving averages of $0.0882 and $0.0919 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1050.
