Home Commercial trading Drone Delivery Canada Corp (TAKOF) (CVE: FLT) Stock rockets after the news: how to trade now?

Drone Delivery Canada Corp (TAKOF) (CVE: FLT) Stock rockets after the news: how to trade now?



The drone technology company Drone Delivery Canada Corp (OTCMKTS: TAKOF) (CVE: FLT) has announced that the United States Patent Office has approved its Patent No. 11,053,021 entitled “Unmanned Aerial Vehicle and Method of indication of a landing zone ”. Intended for UAV and its landing at one location, the patent has a light source to generate a light beam to define a pattern. Shares of the company climbed around 27% on the CVE.

Michael Zahra, President and CEO of Drone Delivery Canada, said the innovation can facilitate a proper landing as well as a cargo drop zone on a number of fixed platforms and advance safety on the ground. . Zahra added that the company will continue to grow its intellectual property portfolio and also hopes to continue its business success.

DDC will perform appropriate route delivery of the EIA by operating the Sparrow drone as DroneSpot’s take-off and landing areas. Operations will be conducted in accordance with Canadian protocols and flights will be monitored from the company’s operations control center in Vaughan, Ontario.

The company hopes the first drone delivery project will advance the supply chain industry. The agreements allow it to bill customer payments in advance as well as a monthly fee for professional managed services for the following year. Beginning with B2B freight delivery to Edmonton International Airport, the company has commercial contracts in Alberta as well as with courier companies.

Market reaction:

On Friday, TAKOF stock climbed 27.50% to $ 1.11 with more than 1.01 million shares, compared to its average volume of 198,000 shares. The stock traded in a range of $ 0.9341 to 1.1100 after the trade opened at $ 0.985. Over the past 52 weeks, the stock has traded in a range of $ 0.4520 to $ 2.0100.