AI Stock Alert - Palladyne AI Corp. (NASDAQ: PDYN) Flies on Drone News

November 22, 2024 (Investorideas.com Newswire) Investorideas.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

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