Shares of drone-parts maker Unusual Machines (UMAC) climbed by 57.2% intraday on May 28 after a report stated that the Trump administration is planning to fund the company. The Pentagon has reportedly been in talks with a group of drone companies about potential funding deals that might include partial federal government ownership.
However, this deal might invite heightened Congressional scrutiny of UMAC, as Donald Trump Jr., the President's eldest son, is a shareholder and advisory board member of the company. On the other hand, Needham analysts believe this potential funding decision makes sense, as the supply of drone components and domestic manufacturing capabilities in this market are constrained.
