WISeKey shares surge 10.92% intraday after announcing collaboration with Parrot and SEALSQ to enhance drone security via satellite network and semiconductors.

WISeKey International (NASDAQ:WKEY) surged 10.92% intraday following the announcement of a collaboration with Parrot, SEALSQ, and other partners to enhance drone security using WISeKey's satellite network and SEALSQ semiconductors. The partnership, disclosed on September 20, highlights advancements in secure IoT communication and cybersecurity for drones, aligning with the company’s strategic focus on space-based IoT and post-quantum cryptography. Additionally, recent developments such as WISeSat.Space’s expansion in satellite technology and SEALSQ’s new cryptographic modules for IoT devices reinforced investor confidence in the firm’s long-term growth prospects. A concurrent upgrade of WKEY to "Buy" by Maxim Group, with a raised price target to $13, further amplified positive sentiment, suggesting strong institutional support for its innovation-driven business model.