AeroVironment Jumps 6% on First-Ever $464.8M U.S. Army Directed-Energy Laser Production Contract; Unusual Machines and Red Cat Also Rise
AeroVironment, Inc. (NASDAQ:AVAV) shares surged 6% to $153.93 after the company secured a $464.8 million Enduring-High Energy Laser production contract from the U.S. Army. This marks the Army's first-ever directed-energy production award, moving laser weapons from prototype to fielded units. Following this news, other drone-defense companies also saw gains, with Unusual Machines (NYSEAMERICAN:UMAC) up 1% and Red Cat Holdings (NASDAQ:RCAT) climbing 3% on counter-drone read-across.
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