Added: 4 weeks ago
AgEagle Aerial Systems Inc (NYSEAMERICAN: UAVS) has been on a run for the top for the past couple of trading sessions, and this run is continuing today as a conference call commences. So, what’s the news? Here’s what’s going on:
UPDATE: In The Conference Call We Heard The Following
Continues business as normal in COVID-19, has not had to lay off or furlough any employees.
Making strong progress in the drone delivery market. (This likely has something to do with the video rumor that suggests a new drone being launched in partnership with Amazon.)
COVID-19 pandemic is leading to stronger demand for commercial drone delivery.
Australian University is developing pandemic drones.
UAVs intended to spray crops are being modified to spray disinfectant over large infection zones.
The company is ramping up production of complex electrical components and testing equipment.
Software platform is seeing strong progress in Florida in the hemp farming space.
UAVS has already seen positive comments although the platform was just launched.
Other states are expected to follow in this hemp grower software platform.
The company is in active discussions to identify specific needs of various states. However, this contact has taken a back seat to COVID-19.
The company believes that Hemp Overview can become a cornerstone in hemp compliance.
UAVS is scaling back other opportunities to pay more attention to hemp farming and commercial drone delivery opportunities.
CEO will resign on May 5th.
New CEO is expected to be announced in the next few days.
Absolutely no mention of the drone partnership with Amazon rumor.
Company will not be rebranding.
UAVS has applied for small business funding but would not say if they did or did not receive funds.
CEO is stepping down for personal reasons.
His belief in the company is what is keeping him on in the chairman role.
Stock is tanking as no mention of the rumor was made.
Now back to our original UAVS article:
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What Led To The Gains In UAVS Stock Originally
A couple of days ago, someone dug up a video about a drone that seems to be created in a partnership between AgEagle Aerial Systems and Amazon. The company hadn’t made any announcements about the drone, and within hours of the video being spread on message boards, it was deleted. Nonetheless, someone recorded it and uploaded it elsewhere. Here it is:
In the video, you clearly see an unboxing of a drone that’s said to be developed by UAVS and Amazon. Of course, this got the investing community buzzing. There’s a new product coming out in partnership with one of the world’s largest companies. Of course that’s exciting!