11 Firms Under Tech, Energy, Aviation Lead Friday Rally

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4. Archer Aviation Inc. (NYSE:ACHR)

Archer Aviation rallied by more than 20 percent anew on Friday, adding 1.94 points to close at $11.51 apiece following news that the US could restrict Chinese drones which would favor US companies like Archer.

On Thursday, the US Commerce Department said it was mulling over banning Chinese drones in the country over national security issues.

According to the department, threats from China and Russia “may offer our adversaries the ability to remotely access and manipulate these devices, exposing sensitive US data.”

The final decision to write new rules restricting or banning Chinese drones will be made by the incoming Donald Trump administration, which takes over on January 20.

In September last year, Commerce Secretary Gina Raimondo said that she was considering imposing restrictions on China-made drones similar to those that would effectively ban Chinese vehicles from the US.

Raimondo said her department would focus on drones with Chinese and Russian equipment, chips, and software.

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