US Drone Company Hires Trump Jr as Adviser, Stock Price Surges
A little-known drones company based in Florida made headlines on Wednesday when it announced that Donald Trump Jr. had joined as an adviser, causing a significant surge in its stock price. Allan Evans, the CEO of Unusual Machines, expressed excitement about Trump Jr. joining their team, citing his expertise as instrumental in bringing drone manufacturing back to the USA.
Following the announcement, company shares on the New York stock exchange soared to $11.67 by mid-morning, more than doubling the opening price for the day. Unusual Machines also revealed that Trump Jr. was one of its investors, with a filing to the US Securities and Exchange Commission listing him as the second-largest shareholder.
Describing Trump Jr. as a “globally recognized business leader” and “best-selling author,” Evans emphasized the wealth of experience he would bring to the company. Trump Jr., known affectionately as Don Jr., has primarily worked for his father’s company, the Trump Organization, focusing on real estate and branding. However, he has gained political prominence in recent times, particularly after his involvement in the Ohio senator’s successful Republican ticket, defeating the Democratic ticket of the vice-president and Minnesota governor.
In a statement on Wednesday, Trump Jr. highlighted the importance of American-made drones and the need to reduce dependency on Chinese imports in the industry. This stance aligns with his father’s plans to impose tariffs on Chinese goods. Interestingly, Unusual Machines acknowledged in its SEC filing that it has relied heavily on Chinese imports for its products and operations, raising questions about the company’s future strategies.
While Unusual Machines did not provide further comments on the matter, the appointment of Trump Jr. as an adviser has undoubtedly sparked both interest and speculation within the financial and tech sectors. With the promise of bringing drone manufacturing jobs back to the USA, the company’s partnership with Trump Jr. will be closely watched in the coming months.
