As the world pushes for newer, innovative tech, there are many ways to invest in the future. Recently, autonomous drone stocks have yielded handsome returns. Mysterious drone sightings in the Northeastern U.S. helped drive this. Two companies working closely in this space are Red Cat (NASDAQ: RCAT) and Palladyne AI (NASDAQ: PDYN). Shares have risen 268% and 503%, respectively, in the past three months as of the Jan. 2 close. I’ll reveal what’s behind the rally for these two names and provide perspective on what to watch next.
