Unusual Machines extends gain, halts on volatility after Trump Jr. joins as advisor

On Friday, shares of Unusual Machines (NYSE:UMAC) were halted due to volatility following a significant surge of 86%. This dramatic increase in stock price is part of a larger trend, with the company's shares rising nearly 180% since Tuesday's close. The surge comes in the wake of the company's announcement regarding the addition of a high-profile member to its advisory board.

Unusual Machines, a U.S.-based drone and drone components manufacturer, disclosed on Wednesday that the eldest son on President-elect Donald Trump, Donald Trump Jr., has joined its advisory board. Allan Evans, CEO of Unusual Machines, expressed his enthusiasm about the expertise Trump Jr. brings to the table, especially as the company focuses on bringing drone component manufacturing back to the United States.

Trump Jr. commented on the importance of the drone industry and the necessity for the U.S. to reduce its reliance on foreign-made drones and components. His involvement is expected to play a significant role in advancing Unusual Machines' efforts to onshore manufacturing and strengthen domestic supply chains, thereby enhancing U.S. technological leadership in the burgeoning drone sector.

CEO Allan Evans addressed speculation regarding the potential benefits of Trump Jr.'s connections, particularly concerning government approvals. Evans clarified that he would not request Trump Jr. to facilitate or leverage his connections for such matters, emphasizing the advisory role Trump Jr. is expected to play within the company.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source: Investing.com