Drone Delivery Canada Corp (TAKOF) (CVE:FLT) Stock Rockets After The News: How to Trade Now?

Drone Technology company Drone Delivery Canada Corp (OTCMKTS:TAKOF) (CVE:FLT) has announced on United States Patent Office granting approval to its Patent No. 11,053,021 named ‘Unmanned Aerial Vehicle and Method for Indicating a Landing Zone’. Aimed at UAV and its landing at a location, the patent has a light source for generating a light beam for defining a pattern. Shares of the company soared about 27% on the CVE.

Michael Zahra, President & CEO of Drone Delivery Canada, said that the innovation can facilitate suitable landing as well as cargo drop area on a number of stationary platforms and progress on ground safety. Zahra added that the company will carry on growing its intellectual property portfolio and also hopes to continue its commercial success.

DDC will be making an apt route delivery from EIA harnessing the Sparrow drone as DroneSpottakeoff and landing zones. The operations will be done as per Canadian protocols and flights will be monitored from the company’s Operations Control Centre in Vaughan, Ontario.

The company hopes that the first drone delivery project will advance the supply chain industry. The Agreements allow it to charge payments from customers up-front as well as monthly fees for professional managed services for the next year. Beginning with B2B cargo delivery at Edmonton International Airport, the company has commercial contracts in Alberta as well as with courier companies.

Market Reaction:

On Friday, TAKOF stock soared 27.50% at $1.11 with more than 1.01 million shares, compared to its average volume of 198k shares. The stock had moved within a range of $0.9341 – 1.1100 after opening the trade at $0.985. Over the past 52-week, the stock has been trading within a range of $0.4520 – 2.0100.