Why AeroVironment Shares Are Losing Altitude This Week
Shares of AeroVironment (NASDAQ: AVAV) traded down more than 9% for the week as of Friday morning as investors reacted to the drone maker's earnings report. The results came in ahead of expectations, but guidance for the full fiscal year failed to impress.
AeroVironment is a longtime maker of small, backpack-size drones used primarily by the military. The company has been branching out of late, doing a series of deals to expand its artificial intelligence capabilities and to build up its ground-based robotics offerings. And earlier this year, it also acquired Arcturus UAV, expanding its drone portfolio into larger aircraft.
An AeroVironment drone about to take off. Image source: AeroVironment.
Source Fool.com
