Two Senators Propose To Bar Federal Aviation Administration From Using Chinese Made Drones
Portfolio Pulse from Benzinga Newsdesk
Two US senators have proposed legislation to bar the Federal Aviation Administration (FAA) from using Chinese-made drones, citing national security concerns.
June 08, 2023 | 6:27 pm
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NEGATIVE IMPACT
The proposed legislation to bar the FAA from using Chinese-made drones may negatively impact Chinese companies included in the iShares China Large-Cap ETF (FXI).
The proposed legislation could lead to reduced demand for Chinese-made drones, which may negatively impact the revenues and stock prices of Chinese companies included in the iShares China Large-Cap ETF (FXI).
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
The proposed legislation to bar the FAA from using Chinese-made drones may have a limited impact on the overall US stock market, as represented by the SPDR S&P 500 ETF (SPY).
The proposed legislation is specific to the FAA and Chinese-made drones, and its impact on the overall US stock market, as represented by the SPDR S&P 500 ETF (SPY), is likely to be limited.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 30
NEUTRAL IMPACT
Vislink Technologies, a US-based wireless video communications company, may not be directly impacted by the proposed legislation barring the FAA from using Chinese-made drones.
Vislink Technologies (VISL) is a wireless video communications company and not a drone manufacturer. The proposed legislation barring the FAA from using Chinese-made drones may not have a direct impact on the company's stock price.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
POSITIVE IMPACT
AeroVironment, a US drone manufacturer, may benefit from the proposed legislation barring the FAA from using Chinese-made drones.
As a US drone manufacturer, AeroVironment (AVAV) could see increased demand for its products if the FAA is barred from using Chinese-made drones. This would likely lead to a positive impact on the company's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70