Why AeroVironment Stock Is Flying Higher Today
Drone maker AeroVironment (NASDAQ: AVAV) received an upgrade overnight, and the stock is taking off as a result. Shares of AeroVironment are up as much as 13% on Thursday morning based on positive commentary about what lies ahead.
AeroVironment has received a lot of attention since the start of the war in Ukraine. The company's small to midsized unmanned aerial vehicles (UAVs) have been a key piece of the U.S. plan to support the Ukrainian war effort, and the drones have performed well in combat. The conflict has both provided added revenue to AeroVironment and demonstrated the effectiveness of its platforms.
Investors have taken note, sending AeroVironment shares up more than 30% for the year heading into Thursday trading. But the stock of late has been well below its highs for the year on skepticism about how fast new orders might materialize.
Source Fool.com
