Australia's Elsight set for best week in 3 yrs on FAA drone certification

Elsight

08/09/2023 05:40

** Shares of Elsight  ELS.AX  rise as much as 23.7% to
A$0.470, extending gains
    ** Stock hits highest level since June 7, 2022
    ** Stock closed 22.6% higher on Thursday after co received
Type certification from the U.S. Federal Aviation Administration
(FAA) for its non-air carrier drone
    ** Co says certification allows flight operations over
people and infrastructure without the need for case-by-case
waivers
    ** Stock set to gain more than 51.6% this week, its biggest
weekly gain since end-June 2020, if trend holds
    ** Day's trading volume 10.9x the 30-day avg volume of
73,010 shares
    ** Stock has risen 11.8% this year, as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))