Aerodrome Group jumps 80% after major drone order

Aerodrome Group’s (TASE: ARDM) share price has risen 80% over the past two days after the company notified the Tel Aviv Stock Exchange (TASE) yesterday that it had received a NIS 137 million order to supply drones and accessory products to a government company. The stock price rose by 64% yesterday and by 16.62% today.

Aerodrome Group produces drones to collect intelligence by acquiring, analyzing and processing data to generate advanced digital AI insights. Under the terms of the new order, the drones will be supplied over a 12-month period, with deliveries starting in the first quarter of 2025 subject to a purchase order being issued by the customer.

Aerodrome Group’s stock price was particularly volatile during the war. In the first few weeks of the war, the stock price jumped from NIS 0.38.2 to NIS 0.90, dropped to NIS 0.60 in November 2023, and jumped to NIS 1.16 at the end of May before falling to NIS 0.35 last month. The share price closed today at 0.75.8 shekels.

Published by Globes, Israel Business News – en.globes.co.il – on October 21, 2024.

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