Ageagle Aerial Systems (NYSE: UAVS) stock jumped 15% following the announcement that the Federal Aviation Administration will move forward with rules that will permit package deliveries using drones.
The FAA announced new rules in December last year designed to enhances safety and security for unmanned aerial vehicles, including remote identification tech to keep track of what is being flown. Transportation Secretary Pete Buttigieg has lauded the new rules calling them a massive step in safe and secure management of growing drone use in the US.
For years we have heard about a future where major retailers such as Amazon.com and delivery companies such as UPS operate drones taking over delivery trucks and drivers. There was no regulatory framework for this, but it seems that the FAA rules could be a reality, and drone companies such as AgEagle will benefit. AgEagle currently is developing delivery drones, and in the past year, the stock surged over 800% on optimism of what the agriculture drones maker could turn into. In the coming months, AgEagle is a stock worth watching.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.