Unusual Machines' shares surge over 90% after Donald Trump Jr. joins advisory board.

• Unusual Machines' share price surged over 90% in premarket trading following the news that Donald Trump Jr. had joined the company's advisory board.
• Trump Jr. is the son of President-elect Donald Trump.
• Unusual Machines has a market capitalization of less than $50 million.

On Wednesday, the share price of a small U.S. drone and drone component maker increased by more than 90% in premarket trading after it was announced that Donald Trump Jr., the son of President-elect Donald Trump, had joined its advisory board.

Allan Evans, CEO of Unusual Machines, stated that having Don Jr. join their board of advisors would provide them with the unique expertise they require as they bring drone component manufacturing back to America.

Evans, whose Orlando, Florida-based company has a market capitalization of less than $50 million, stated, "I bring a wealth of experience and look forward to his advice and role within the Company as we continue to build our business."

Trump Jr. stated that the need for drones is clear, and it is equally clear that we must stop purchasing Chinese drones and drone components.

Trump Jr. expressed excitement about taking on a larger role in the movement to bring drone manufacturing jobs back to the USA, as he loves what Unusual Machines is doing in this regard.

Recently, Unusual Machines reported a net loss of $4.86 million for the nine months ending Sept. 30, despite generating revenues of $3.56 million during the same period.

The stock, which closed at $5.36 per share Tuesday, was trading at more than $8 per share as of Wednesday morning, with its 52-week low being 98 cents per share.

Volume was heavy Wednesday morning, with nearly 5 million shares trading hands.

This is developing news. Check back for updates.