DroneShield Ltd (DRO.AU) surged 12.67% in intraday trading on Tuesday, marking its most significant intraday jump since late March.
The rally came after an exchange filing revealed that JPMorgan Chase & Co. had increased its voting power in the drone countermeasure firm to 6.68% as of July 30, up from a previous stake of 5.15%.
Trading volume exceeded 11.9 million shares, well above the 30-day average, as investors reacted to the vote of confidence from the global financial giant.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.