Drone Delivery Canada (TAKOF) Stock Continues to Trade In a Range: Buy Or Sell?

Drone delivery companies have slowly but surely become the subject of considerable attention from among investors due to the potential growth in the industry over the coming years. One of the companies that could be worth looking into at this point in time is Drone Delivery Canada Corp (OTCMKTS:TAKOF).

Although the stock has declined over the past week, it is a stock that could still be worth tracking. Yesterday, the company also made a key announcement with regards to a new commercial agreement. Drone Delivery Canada Corp announced that it signed the agreement with DSV Air & Sea Inc Canada by way of which it is going to help with the renewal and extension of the Sparrow drone route project.

The project is an internal one for DSV and is meant for its offices as well as its logistics facility that is located in Milton, Ontario. This is an important deal for Drone Delivery Canada Corp and it had been facilitated by its sales agent Air Canada.

The company is going to upgrade the project to the Robin XL when it is made commercially available at some point in 2021. It is important to note that this is going to be the first Robin XL project for Drone Delivery Canada Corp.

Market Reaction:

On Thursday, TAKOF stock fell 1% to $0.9240 with more than 81k shares, compared to  its average volume of 190k shares. The stock has moved within a range of $0.9074 – 0.9870 after opening the trade at $0.9074. Over the past 52-week, the stock has been trading within a range of $0.4520 – 2.0100.