Soared 155% in five days! Musk has "blown up" another meme stock

Wallstreetcn
2024.11.28 00:41
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Last Sunday, Musk criticized the traditional fighter jet F-35 and posted a photo of a drone on social media X. On the other hand, President Trump's son Donald Trump Jr. agreed to become an advisor to the small drone manufacturer Unusual Machines. Over the past five days, Unusual Machines has surged by 155%

Compared to traditional fighter jets, Musk and Trump seem to prefer drones.

Last Sunday, Musk criticized the F-35 traditional fighter jet produced by manufacturer Lockheed Martin, calling the F-35's design "broken" and "the worst value military equipment in history," and posted a photo of a drone on social media X. Drones play an important role in the military, and the U.S. military is investing in various drones and unmanned technologies.

Lockheed responded to Musk's comments by stating, "The F-35 is the most advanced and survivable fighter jet in the world, a crucial deterrent, and the cornerstone of joint all-domain operations."

U.S. military officials also defended the fighter jets, claiming that they are faster, have a longer range, and can carry more lethal weapons than drones. Richard Aboulafia, managing director of AeroDynamic Advisory, stated in an interview with Barron's that modern fighter jets are "irreplaceable" for the foreseeable future.

However, these defenses of fighter jets seem to have little effect. On Monday, Lockheed's stock price fell nearly 4% during trading.

On the other hand, small drone manufacturer Unusual Machines saw its stock soar as if by divine intervention.

On Wednesday, small-cap stock Unusual Machines rose over 84% to $9.89 per share, reaching a high of $11.67 per share during trading. Over the past five days, Unusual Machines has surged 155%.

Unusual Machines manufactures various drone components, including military drones, and the recent rise in stock price has brought its market value to approximately $70 million.

Even more exciting for investors is the report that President Trump's son Donald Trump Jr. has agreed to become an advisor to Unusual Machines. Company CEO Allan Evans stated in a press release:

"Donald Trump Jr.'s joining our advisory board provides us with the unique expertise we need to bring drone component manufacturing back to the U.S. He has extensive experience, and I look forward to his advice helping us continue to grow our business."

Donald Trump Jr. also stated in a statement:

"The demand for drones is evident."

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