Redwire's persistent cash burn and repeated share issuance weaken its investment case despite $13.8m of National Guard drone orders. Training soldiers on its Stalker drones may build familiarity, but operating losses and share expansion threaten shareholder economics. x.com 

Unusual Machines looks set to catch up with drone and defense peers after lagging them, making it the big winner from reports that the Trump administration is in talks to fund US drone companies, per the WSJ. Its CEO Allan Evans recently said he was disappointed its stock had not inflected like Kopin, LightPath and Ondas. x.com  x.com 

Kopin's losses are shrinking while government grants fund its R&D, and four multi-customer platforms each have dated catalysts within six months. Q2 revenue rose 51% to $12.7 million, though nearly all growth was program money, not product; product costs fell to 86% of sales from 94%. Catalysts include Gauntlet II awards and volume Sentinel FPV orders in late Q4, a Q4 profit target and MicroLED samples next year. Slipping awards, a missed ramp, cash burn or no Q4 profit would change the view. … Show more

Kopin is the better side of its venture with FABC, held for its defense angle rather than AI. FABC is too tiny to plausibly finance the venture, and if the technology were as big as claimed, a large company threatened by it would likely have bought it out, since both market caps are a rounding error for such players. The FABC tie-up is the one thing about Kopin that raises questions. x.com 

Kopin, with partner SBLX, may have cracked MicroLED-based optical interconnects, the holy grail for interconnects, which are the main bottleneck in AI data centers. No other public company has announced one, and Kopin builds on MicroLED products it developed for the US Army. Copper-interconnect leader Credo is worth about $20 billion and just paid $750M for DustPhotonics, while Kopin is about $500M and SBLX under $50M in what is described as a $100B industry. x.com  x.com