Shares of Ondas Holdings Inc. (ONDS) are surging 5.05% in pre-market trading on Thursday, following the company's announcement of a significant strategic move in the defense technology sector.
The catalyst for this upward movement is Ondas Holdings' $35 million strategic equity investment in Performance Drone Works (PDW), a leading manufacturer of combat robotics for the U.S. military. This minority stake acquisition is poised to strengthen Ondas' position in the autonomous defense technology market and accelerate the development of advanced defense robotics.
The investment will enable PDW to scale up production at its Huntsville, Alabama facility, expand its engineering team, and secure a supply of domestically sourced, NDAA-compliant components. Market participants are reacting positively to this strategic move, viewing it as a significant step for Ondas Holdings in expanding its footprint in the high-growth defense robotics sector.