Drone maker companies rallied on Thursday. SES AI rose 62%; Palladyne AI soared 60%; Unusual Machines rose 18%; Ondas Holdings rose 10%.
Palladyne AI announced that its Palladyne Pilot AI software platform has achieved a key developmental milestone with the successful first flight of a third-party small drone that demonstrated the ability to identify and prioritize terrestrial targets of interest and then interface with the drone’s autopilot software to follow the prioritized target autonomously.
”Our first autonomous flight with Palladyne Pilot was able to track and follow a target, successfully demonstrating how powerful our AI platform can be by automating those functions where algorithms and machines excel, while still leaving ultimate control in the hands of humans,” said Dr. Denis Garagic, co-founder and CTO, Palladyne AI. “Once we complete commercialization of Palladyne Pilot — which we expect to happen by the end of the first quarter of 2025 — small, economical drones will finally offer some of the same intelligence capabilities that larger, multi-million-dollar unmanned systems have had for years.
Unusual Machines 's chief executive warned shareholders that short sellers might try to manipulate the company's stock price.
CEO Allan Evans said in a letter to shareholders that, among recent company developments, a change of auditors was a "proactive" move and that a recent decision not to do "at-the-market" financing was based on "prioritizing the long-term interests of our shareholders."
"In today's media landscape, it's easy to throw around accusations like 'pump and dump.' While our stock price jumped recently, it was not the result of any marketing campaign initiated or sponsored by us," Evans said.
The letter urged shareholders hold their stake in a cash account, opt out of lending programs, or transfer shares to the company's transfer agent to prevent short sellers from borrowing them for short sales.
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