Ondas Holdings Inc. (ONDS) shares plummeted 5.00% during intraday trading on Friday, marking a significant decline for the drone-related defense firm.

This movement appears to be a pullback following a volatile week where the stock had seen substantial gains. According to market reports, Ondas and other defense names recently benefited from rising international tensions, particularly renewed worries about a potential U.S. strike on Iran during the Trump administration. Prediction markets had increased the implied odds of such military action earlier in the week.

The company's recent momentum has also been supported by significant contract wins, including a multi-million dollar order for its Iron Drone Raider system from a NATO country customer. Despite today's decline, Ondas has shown remarkable growth of over 719% in the past 12 months, trading well above its key moving averages before this correction.