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Red Cat's Drone Soars 9% After Successful GPS-Free Flight with Palantir Tech
Red Cats Black Widow drone successfully completed GPS-free flight tests using Palantir Technologies software, leading to a 9% surge in shares on Nasdaq, highlighting advancements in unmanned aerial vehicle navigation.
- Red Cat Holdings Inc. announced successful test flights of its Black Widow unmanned aerial vehicle, integrated with Palantir Technologies Visual Navigation software, enabling flight without GPS.
- The test flights demonstrated reliable performance across various conditions, enhancing the drones potential for applications in reconnaissance and other military uses for the United States Army.
- Following these successful tests, Red Cat shares rose over 9% in Mondays premarket trading, showcasing investor confidence in advancements in software and navigation technologies.
Why It Matters
This development signifies a crucial step in the evolution of unmanned aerial vehicles, particularly for military applications, as the United States Department of War seeks advanced solutions for effective reconnaissance without reliance on the Global Positioning System.