Palladyne AI, Red Cat Shares Surge on Plans to Bolster Autonomous Drone Sales

MT Newswires Live11-20 22:48

Palladyne AI (PDYN) and Red Cat (RCAT) shares were rallying Wednesday morning after the companies said they were expanding their partnership on self-flying drones to also include joint go-to-market activities.

Palladyne AI and Red Cat last month disclosed plans to embed Palladyne AI's artificial intelligence software into Teal drones to enable autonomous operations for a network of drones and sensors for surveillance and reconnaissance activities.

Red Cat recently was selected by the US Army to develop small unmanned aircraft systems for short range reconnaissance, with deliveries expected to begin in 2025, the companies said.

Price: 2.08, Change: +0.28, Percent Change: +15.56

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