Breaking News
LAST CHANCE for Cyber Monday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Draganfly Stock Rallies After Delayed Reaction to $9m Drone Deal

Stock MarketsOct 15, 2021 00:58
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Sam Boughedda

Investing.com — Draganfly (NASDAQ:DPRO) shares rose in the last hour as investors reacted to the news it has signed a minimum $9 million manufacturing agreement with Digital Dream Labs.

Shares jumped to $3.68 and are currently at $3.48, gaining 10.48% on the day. 

The agreement is for drone solutions and systems developer Draganfly to design and develop an AI consumer companion robot drone for Digital Dream Labs, which is an educational tech and entertainment company. 

Draganfly will be the exclusive manufacturer of the Drone, with Digital Dream Labs ordering at least 50,000 units per year with deliveries beginning in 2022.

“Our team of robotics, AI and aviation experts are looking forward to helping DDL cement their market leading position by developing the ultimate drone companion,” said Cameron Chell, CEO of Draganfly.

The companies have entered into a binding letter agreement but warned there is no assurance of a definitive agreement. 

While investors are reacting to the news today, the announcement was initially made on October 12. That day the company's shares closed at $3.11, up 6.87%. 

Before the open on Thursday, Draganfly announced a multi-year partnership with the Drone Racing League. The companies will launch an innovation hub named DR labs to research and develop drone technology. 

Draganfly Stock Rallies After Delayed Reaction to $9m Drone Deal
 

Related Articles

Morgan Stanley Can See Dollar Tree at $170 Soon
Morgan Stanley Can See Dollar Tree at $170 Soon By Investing.com - Nov 27, 2021 1

By Sam Boughedda Investing.com — Morgan Stanley told investors Friday that it wouldn't surprise them to see Dollar Tree Inc (NASDAQ:DLTR) continue to drift toward the $170 to...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Jemarie Sumaylo
Jemarie Sumaylo Oct 15, 2021 1:01
Saved. See Saved Items.
This comment has already been saved in your Saved Items
goods
Jemarie Sumaylo
Jemarie Sumaylo Oct 15, 2021 1:01
Saved. See Saved Items.
This comment has already been saved in your Saved Items
goods
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email