New Horizon Aircraft shares rise 10.83% intraday after advancing Cavorite X7 eVTOL development.

New Horizon Aircraft surged 10.83% intraday following the announcement of advancements in its Cavorite X7 eVTOL aircraft, designed to operate under Instrument Flight Rules. The development highlights progress in the company’s electric vertical takeoff and landing technology, signaling potential regulatory and operational milestones. The second news event, a Yahoo Finance stock page reference with no actionable content, was deemed irrelevant to the price movement. The stock’s sharp intraday gain aligns with positive sentiment around the Cavorite X7’s development, reflecting investor optimism about the company’s position in the emerging eVTOL market.