JFB Construction Holdings (NASDAQ:JFB) surged 2.29% to $6.26 in the pre-market session on Wednesday after its merger partner, Israeli drone maker XTEND, became the first U.S. company to receive U.S. Army Fuze Safety Board approval for its first-person view attack drone high-voltage safety system.
XTEND’s high-voltage safety system moves critical safety and arming functions into software, designed to eliminate the need for separate payload specialists and reduce preparation time through automated countdown and software-driven arming.
Defense Tailwinds Strengthen Merger Thesis
According to JFB Construction, U.S. defense budgets for tactical strike and unmanned systems programs are projected to exceed $100 billion annually in the coming years.
“This approval validates both our technology and the market shift toward scalable, lower-cost strike systems,” XTEND CEO Aviv Shapira said.
In February, JFB and XTEND announced a definitive $1.5 billion all-stock business combination backed by Eric Trump, Unusual Machines (NYSE:UMAC) and Aliya Capital. The merger is expected to close in 2026.
Trading Metrics, Technical Analysis
The Florida-based firm specializing in commercial and residential construction and development has a market capitalization of $110.33 million, with a 52-week high of $17.55 and a 52-week low of $1.80.
JFB Construction has a Relative Strength Index (RSI) of 34.94.
The small-cap stock has gained 175.68% over the past year.
JFB is currently trading at about 27.4% above its 52-week low, indicating it remains near the lower end of its annual range.
The stock closed the regular session down 5.70% at $6.12, according to Benzinga Pro.
With a strong Momentum in the 99th percentile, Benzinga’s Edge Stock Rankings indicate that JFB has a positive price trend across all time frames.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.