The largest bank in the United States, JPMorgan Chase, has recently made a significant investment in a company specializing in drone defense technologies. Droneshield, based in New South Wales, Australia, focuses on radio frequency sensing, artificial intelligence, and electronic warfare to provide anti-drone technology to various sectors including government, military, law enforcement, and VIPs.
As per a disclosure from Droneshield, JPMorgan now holds at least 5.31% of the company’s outstanding shares, joining other major institutions like Vanguard, Charles Schwab, Fidelity, and State Street in investing in Droneshield. The company’s stock (DRO) has seen a remarkable increase of 132% since the beginning of the year and a staggering 1,475% rise from its 2020 low, currently trading at $1.34 AUD ($0.87).
While JPMorgan continues to diversify its investment portfolio, its CEO, Jamie Dimon, has been gradually selling off his shares in the bank since February 2024. Dimon recently sold 133,639 JPMorgan Chase shares for approximately $31.50 million on April 14th. In February, he sold 866,361 shares worth around $233.78 million when the stock was trading near all-time high levels. Despite Dimon’s selling activity, JPMorgan’s stock (JPM) has seen a 13.8% increase this year, currently trading at $253.
The investment in Droneshield reflects JPMorgan’s strategic approach to exploring emerging technologies and industries. With the growing significance of drone technology in various sectors, the bank’s decision to invest in drone defense technologies aligns with its commitment to staying at the forefront of innovation.
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