On Monday, Eric Trump said drones are a “much better investment” as he shared a report about a new drone company he and his brother, Donald Trump Jr. are backing.
Eric Trump Touts Drone Industry
Eric Trump reacted to a report by The Wall Street Journal on X, highlighting his optimism about the sector while taking a jab at traditional media.
“I happen to believe drones will be a much better investment than companies that still print newspapers,” he wrote while sharing the article.
The brothers are backing a drone startup called Powerus, which aims to capitalize on rising demand from the U.S. military.
Trump-Linked Investors Back Nasdaq Plan
The West Palm Beach, Florida-based company plans to go public through a reverse merger with Aureus Greenway Holdings Inc. (NASDAQ:AGH), a publicly traded golf-course holding company.
The deal would allow Powerus to begin trading on the Nasdaq in the coming months.
Investors tied to the Trump family are involved in the deal, including their investment vehicle American Ventures.
Drone component maker Unusual Machines — where Trump Jr. is a shareholder and advisory board member — is also participating and counts Powerus as a customer.
Trump-backed investment bank Dominari Securities is assisting with the transaction, while the Korea Corporate Governance Improvement Fund has invested $50 million.
Pentagon Demand And China Drone Ban Fuel Growth
The investment comes as the U.S. government ramps up efforts to expand domestic drone manufacturing after banning new Chinese drone models from entering the American market.
Powerus has acquired three small companies over the past six months and sells aerial and maritime drones. The company is aiming to scale production to more than 10,000 drones per month as defense demand increases.
Price Action: Shares of Aureus closed Monday at $5.48, up 12.30%. In the after-hours trading, it slipped 6.02% to $5.15, according to Benzinga Pro.
According to Benzinga Edge Stock Rankings, AGH is trending upward across short-, medium and long-term timeframes, with its Momentum score placing in the 99th percentile.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Maxim Elramsisy / Shutterstock.com
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