November 22, 2024 (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a leader in retail investor trading ideas for AI and tech stocks issues a trading alert for Palladyne AI Corp. (NASDAQ: PDYN), a developer of artificial intelligence software for robotic platforms in the commercial and defense sector.
The stock makes the NASDAQ top gainers list today, currently trading at $3.5399,gaining $1.5399, up 76.9989% on volume of over 43 Million as of this report. The stock had a morning high of $3.61.
Palladyne just announced an expanded partnership with Red Cat Holdings, Inc. (NASDAQ: RCAT) (“Red Cat”) and its Teal Drones subsidiary , a drone technology company integrating robotic hardware and software for military, government, and commercial operations. The broadened relationship includes joint go-to-market activities to be coordinated between the companies.
In early October, Palladyne AI and Red Cat announced that they had partnered to embed Palladyne AI’s artificial intelligence software into Teal drones, including those already in the field, to enable autonomous operation and expand drone system capabilities to facilitate the creation of a network of collaborating drones and sensors that self-orchestrate to provide superior intelligence, surveillance, and reconnaissance capabilities. Palladyne AI and Teal’s expanded partnership will include joint sales and marketing for Palladyne AI’s artificial intelligence software on Teal drones. Palladyne Pilot is expected to be available on all Teal drones and will be included in new drones shipped to customers who desire the features and functionality provided by the platform.
Red Cat recently announced it was selected as the winner of the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record after a rigorous test and evaluation process for its Teal next generation sUAS, designated as the Black Widow and WEB. The testing and evaluation were completed by the Army Project Management Office for Uncrewed Aircraft Systems, Army Maneuver Battle Lab, and Army Test and Evaluation Command, and the award was based on soldier feedback, technical performance, volume manufacturability, and system cost. The production contract anticipates deliveries beginning in 2025. Palladyne Pilot is expected to be available for all sUAS systems delivered to the Army.
Recent news
https://finance.yahoo.com/news/palladyne-ai-red-cat-expand-140000897.html
Get more AI and tech stock investing ideas with Investorideas.com free stock directory
https://www.investorideas.com/TSS/Stock_List.asp
Sign up for free trading and stock news alerts at Investorideas.com
https://www.investorideas.com/Resources/Newsletter.asp
Disclaimer
Global Investor Ideas is part of the Investorideas.com content umbrella and is owned by Econ Corporate Services Inc. For Investorideas disclosure and disclaimer please visit the site directly
Disclaimer/Disclosure: GlobalInvestorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by GlobalInvestorideas and investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. If we are not the source for content but just a publisher , please contact the source of all content for questions and info. We are not responsible for third party content.