AgEagle Aerial Systems (NYSEMKT:UAVS) shares fly up 21% after a $405M acquisition announced late yesterday in the unmanned aircraft systems space may be be raising investors' hopes for more consolidation in the industry.
After Wednesday's close AeroVironment (NASDAQ:AVAV) agreed to acquire privately held Arcturus UAV in cash and stock.
In the past year, UAVS shares have skyrocketed to $9.39 from 55 cents, with its ascent accelerating midyear amid speculation that the company was working with Amazon on a delivery drone.
UAVS shares surge more than 1,000% in the past year.
SOURCE : Jan. 14, 2021 4:02 PM ETAgEagle Aerial Systems, Inc. ( UAVS )By: Liz Kiesche, SA News Editor, SeekingAlpha