NASDAQ: ONDS
Key Data Points
Up 13.70% to $12.53 today, Ondas (ONDS +2.47%) provides private wireless, drone, and automated data solutions. Ondas IPO'd in 2020 and has grown 104% since going public. Trading volume reached 140 million shares, roughly 60% above its three-month average of 86 million.
How the markets moved today
The S&P 500 added 0.65% to finish near 6,903, while the Nasdaq Composite climbed 0.69% to 23,396. Aerospace and defense stocks received strong interest, with peers AeroVironment up 16.09% to $297.41 and Draganfly gaining 10.34% to $8.11, as investors tracked demand for drone defense and autonomous systems platforms.
What this means for investors
It was a busy day for the aerospace industry, following the news surrounding Venezuela and President Maduro this weekend. The State Street SPDR S&P Aerospace & Defense ETF rose 4%, while the iShares U.S. Aerospace & Defense ETF increased 2%, highlighting renewed interest in the space. With these stocks being bid back up, Ondas rose alongside them after a noteworthy batch of news last week.
Following the announcement of $10 million in new orders, a rebrand, and the relocation of its headquarters to Florida last week, the growth stock declared its Investor Day would take place on January 16th, as stated in a news release this morning. While nothing changed operationally for Ondas' business today, its rise highlights the market's excitement over a broader shift toward drones for defense, as evidenced by the stock's sixfold surge in six months.
