ZenaTech Stock Is Soaring Tuesday: What's Going On?

ZenaTech, Inc. ZENA shares are trading higher Tuesday. The stock continues to gain momentum after last week's announcement of new partnerships that align its ZenaDrone 1000 AI drone solutions with Blue UAS and NDAA compliance requirements. Here’s what you need to know.

What To Know: Last Thursday, ZenaTech said it signed Blue Unmanned Aerial Systems (UAS) and US National Defense Authorization Act (NDAA) compliant partner agreements for its supply chain in order to sell its ZenaDrone 1000 AI drone solutions to U.S. Defense branches and NATO forces. 

The company’s subsidiary, ZenaDrone, secured supply chain partnerships to ensure its ZenaDrone 1000 AI drones comply with Blue UAS and NDAA standards. The agreements follow earlier trials with the U.S. Air Force and Navy, where its drones were tested for critical field operations.

“Our strategic relationship with the Arizona Commerce Authority has resulted in these important NDAA-compliant partners needed in order to qualify for the Blue UAS list,” said CEO Shaun Passley.

Trading activity has intensified this week, with Tuesday’s trading volume hitting 56 million shares at the time of writing, well above the 100-day average of 6.09 million, according to Benzinga Pro. The stock has been highly volatile, and shares have already been halted multiple times for volatility in Tuesday’s session.

Traders appeared to bid up the stock on Monday after the company put out a press release highlighting the $47 billion military drone industry opportunity. As the company continues to pursue military contracts, ZenaTech is also expanding into warehouse management with acquisitions and paid trials for its IQ Nano drone, aiming to grow its Drone-as-a-Service model.

ZENA Price Action: ZenaTech shares were up 52.3% at $9.78 at the time of writing, according to Benzinga Pro.

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