Amid national security concerns the White House may have with its rival China, the Biden administration is considering moves to “limit or ban Chinese drones in the US, ” writes Bloomberg’s Eric Martin. “Securing the unmanned aircraft systems technology supply chain is critical to safeguarding our national security,” said Commerce Secretary Gina Raimondo on Thursday, according to Bloomberg. The Fly notes that publicly traded companies that may be impacted include: AeroVironment (AVAV), Amazon.com (AMZN), EHang (EH), Kratos Defense (KTOS), Joby Aviation (JOBY) and Northrop Grumman (NOC).
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVAV:
- 2025 Predictions: Small & Mid-Cap Stocks Worth Following
- AeroVironment:GAO denies protest of Army’s $990M sole-source Switchblade award
- AeroVironment surpassing protest ‘should be well-received,’ says Raymond James
- AeroVironment protest denial removes overhang, says William Blair
- AeroVironment says GAO denied protest of Army’s Switchblade award