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Aerodrome Group jumps 80% after major drone order
21 Oct, 2024 16:04
שלח תגובה במיילDean Shmuel Elmas

Aerodrome Group produces drones for intelligence gathering by acquiring, analyzing and processing data for generation of advanced digital based AI insights.

The share price of Aerodrome Group (TASE: ARDM) has risen 80% over the past two days after the company notified the Tel Aviv Stock Exchange (TASE) yesterday that it had received a NIS 137 million order to supply drones and accessory products to a government. The share price rose 64% yesterday and a further 16.62% today.

Aerodrome Group produces drones for intelligence gathering by acquiring, analyzing and processing data for generation of advanced digital based AI insights. Under the terms of the new order the drones will be supplied over 12 months with deliveries commencing in the first quarter of 2025 subject to the issuing of a procurement order by the customer.

Aerodrome Group's share price has been particularly volatile during the war. In the opening few weeks of the war the share price jumped from NIS 0.38.2 to NIS 0.90, fell back to NIS 0.60 in November 2023, jumped to NIS 1.16 at the end of May before falling to NIS 0.35 last month. The share price closed at NIS 0.75.8 today.

Published by Globes, Israel business news - en.globes.co.il - on October 21, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

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