Why Dronemaker AeroVironment Crashed This Week
AeroVironment (NASDAQ: AVAV) reported quarterly results earlier this week that came in ahead of expectations, but cut guidance. Investors reacted by heading for the exits, sending AeroVironment shares down 20% heading into Friday morning trading.
On Dec. 7, AeroVironment reported fiscal second-quarter earnings of $0.78 per share, beating analyst expectations for $0.62 per share. But the $122 million in revenue fell short of the $130 million consensus, and the company lowered its full-year sales and earnings outlook substantially.
A soldier prepares to launch an AeroVironment drone. Image source: AeroVironment.
Source Fool.com
