Drone Stock On The Move After Palantir Partnership

Ondas Holdings Inc (NASDAQ:ONDS) stock is buzzing this morning, up 2.6% to trade at $10.10, after the drone technology company announced a strategic partnership with Palantir Technologies (PLTR). On Monday, Ondas agreed to merge with U.S. defense contractor Mistral. 

Ondas stock traded at only 57 cents a year ago. Now, the shares are above their year-to-date breakeven level, with support in place at their 80-day moving average. Today's pop also has the shares breaking out of a downtrend from their Jan. 12, five-year high of $15.28.  

A short squeeze could power a move back to that peak. Short interest is up 38.1% in the last month, and the 157.78 million shares sold short account for 35.6% of ONDS' total available float.