Ondas (ONDS) Falls on 5th Day on Profit-Taking from Rapid Surge

We recently published 10 Stocks Crash Harder than Wall Street. Ondas Holdings Inc. (NASDAQ:ONDS) is one of the worst performers on Wednesday.

Ondas Holdings extended its losing streak to a 5th straight day on Wednesday, shedding 8.65 percent to close at $9.51 apiece as investors continued booking profits amid this month’s rapid surge.

In the past trading days of October alone, Ondas Holdings Inc. (NASDAQ:ONDS) has already jumped by as much as 51.5 percent, but a selling spree dragged down sentiment to clock just a 23 percent gain month-to-date.

In recent developments, Ondas Holdings Inc. (NASDAQ:ONDS) officially launched on Wednesday a new business unit that would focus on investing in global defense and security technologies, including unmanned and AI systems.

Called Ondas Capital, the subsidiary allocated up to $150 million over the next two years to assist in accelerating the transition of proven unmanned and autonomous technologies into US and European production, with investments anticipated to begin in late 2025.

In other news, Ondas Holdings Inc. (NASDAQ:ONDS) expanded its partnership with Rift Dynamics to include Nammo Raufoss AS—a leading Norway-based global provider of advanced munitions with a strong manufacturing presence in the US—to collaborate for the development of Wasp drones with munition payloads, to be sold exclusively in the United States.

The integration of Nammo’s warheads with Rift’s Wasp platform delivers a turnkey, NDAA-compliant attritable drone system designed for rapid scale-up and mass deployment. Customers benefit from a single-source solution that combines airframe, munition, and control systems into one package—reducing procurement complexity, improving cost efficiency, and ensuring operational performance in the field.

While we acknowledge the risk and potential of ONDS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ONDS and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.