Trump-Backed Drone Maker Set to Go Public as Defense Stocks Pause
Defense stocks paused after gains as Powerus, a Trump-backed drone maker, plans a Nasdaq reverse merger with Aureus Greenway Holdings to go public, signaling rising demand for drones and military gear amid Middle East tensions; Powerus aims to produce 10,000 drones per month and may license Ukrainian tech, while major contractors like RTX, Lockheed Martin, and Northrop Grumman slipped modestly.