ZenaTech, Inc. (ZENA) saw a significant surge in its stock price on December 19, 2024, closing at $7.73, up 28.83% from the previous day's close of $6.00. The stock opened at $6.52 and reached an intraday high of $12.20 before settling down. The trading volume was notably high at 8,321,913 shares, surpassing the average daily volume by 23.29%. This dramatic price movement was primarily driven by the announcement of ZenaTech's subsidiary, ZenaDrone, relocating to a new manufacturing facility in Phoenix, Arizona. This facility is set to produce drones for the US Defense and NATO, aligning with the "Made in America" initiative, and will also focus on research and development, sales, pilot training, and drone demonstrations. The strategic move is expected to enhance ZenaTech's capabilities in military applications, particularly in border control and surveillance, leveraging Quantum Computing for efficient drone swarm operations.
The announcement also highlighted the launch of the Sky Traffic project, which integrates Quantum Computing with AI-driven drones for traffic optimization and weather forecasting. This project aims to provide real-time traffic data and improve weather predictions, utilizing Amazon Web Services for computing power. Despite the initial surge, the stock experienced a decline in after-hours trading, reflecting some investor caution regarding the ambitious nature of these plans and the inherent risks associated with integrating cutting-edge technologies.