Ondas Holdings (ONDS) Sheds 8.9%, Mirrors Broader Pessimism

We recently published 10 Big Names Investors Are Dumping. Ondas Holdings Inc. (NASDAQ:ONDS) is one of the worst performers on Wednesday.

Ondas dropped its share prices by 8.90 percent on Wednesday to finish at $7.37 apiece, mimicking a broader market pessimism dragged by increasing fears over heavy spending on AI, while investors continued to take profits ahead of the Christmas holiday.

The drop came despite developments in Ondas Holdings Inc. (NASDAQ:ONDS), which had completed its acquisition of Roboteam, effectively expanding its operations in combat-proven unmanned ground vehicle platforms and complementing its existing aerial autonomy, counter-UAS, and intelligence capabilities.

Once successfully integrated, Roboteam would operate under Ondas Holdings Inc.’s (NASDAQ:ONDS) business unit, Ondas Autonomous Systems.

In other news, Ondas Holdings Inc. (NASDAQ:ONDS) also joined forces with Heidelberger Druckmaschinen AG—a company engaged in technology and mechanical engineering—to jointly examine the establishment of European manufacturing and integration capacity across the listed firm’s autonomous systems portfolio.

The two parties signed a memorandum of understanding on Wednesday in support of Germany and Israel’s celebration of their 60^th year of diplomatic relations.

Ondas Holdings Inc. (NASDAQ:ONDS) said that its partnership would focus on counter-UAV (C-UAV) solutions and Intelligence, Surveillance and Reconnaissance (ISR) systems.

“Through this collaboration, we gain leading expertise in the detection and defence against drones, while Ondas gains an industrialisation partner in Europe that is ready to start immediately. This will enable European security authorities to be supplied at short notice and critical infrastructure in Europe to be protected against drone attacks. A true win-win situation in a field of technology that is currently as important as hardly any other,” said German Federal Minister for Economic Affairs and Energy Katherina Reiche.

While we acknowledge the potential of ONDS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.