Shares in a little-known drone company soared Wednesday morning after announcing that Donald Trump Jr. had joined its advisory board.
Unusual Machines, an Orlando, Florida-based firm born just two years ago as it acquired a drone manufacturer and a separate drone retailing firm, announced the appointment in an early-morning press release.
“Don Jr. joining our board of advisors provides us unique expertise we need as we bring drone component manufacturing back to America,” Allan Evans, Unusual Machines’ CEO, said in the release. “He brings a wealth of experience and I look forward to his advice and role within the Company as we continue to build our business.”
“The need for drones is obvious. It is also obvious that we must stop buying Chinese drones and Chinese drone parts,” Trump Jr. said in the statement. “I love what Unusual Machines is doing to bring drone manufacturing jobs back to the USA and am excited to take on a bigger role in the movement.”
After publishing the release, Unusual Machines’ stock nearly doubled to more than $10 on heavy trading volume.
In a separate securities filing Wednesday, Trump Jr. is listed as at one point having been Unusual Machines’ second-largest shareholder.
The stock surge demonstrates the extent to which an association with the Trump name can once again transform an entity’s fortunes — for better or worse.
During Donald Trump’s first term as president, his social media posts mentioning a company or one of its executives could cause shares to slide or jump, creating material risks — or gains —for investors.
Ironically, Unusual Machines notes in the securities filing its heavy reliance on Chinese imports, which Trump now says would face punitive tariffs once he takes office.
An Unusual Machines spokesperson did not immediately respond to a request for comment.