James Dennin, Kapitall: Six states will start testing drones for commercial use. Amazon is pleased, but what about other stocks?
The Federal Aviation Administration (FAA) just approved six different states to set up drone test centers. The new facilities will be focused on developing drones for civilian and commercial use.
Read more on Tech from Kapitall: Tech Stocks on the Dow Jones: Is IBM the One to Avoid?
After Jeff Bezos drew huge amounts of attention when he announced on 60 Minutes that Amazon (AMZN) was looking into delivering its goods using unmanned air-craft, a wave of detractors quickly voiced their skepticism. After all, keeping track of all the manned planes in the air seems to be more than enough work for regulators.Could adding millions of small, harder-to-track aircraft to the skies be safe, or even plausible? Increasingly the answer seems to be yes. And with online retailers exploring everything from drones to apps to instant delivery, it seems like this trend will be more than just a flight of fancy. We decided to make a list of stocks that manufacture drones, or technology used in drones, to track their performance as this new method for delivery takes off. Click on the interactive chart to view data over time. Do you see any investing opportunities in stocks that manufacture drones? Use the list below to begin your own analysis. 1. Northrop Grumman Corporation (NOC): Provides products, services, and solutions in aerospace, electronics, information systems, shipbuilding, and technical service sectors. Market cap at $25.33B, most recent closing price at $114.17.
2. AeroVironment, Inc. (AVAV): Designs, develops, produces, and supports unmanned aircraft systems (UAS), and efficient energy systems for various industries and governmental agencies. Market cap at $647.25M, most recent closing price at $28.50.
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