Why Did AeroVironment Stock Drop Today?
(NASDAQ: AVAV) stock tumbled 4.6% through noon ET Friday on no obvious bad news. Actually, the contrary: AeroVironment had excellent news just yesterday.
For $186 million, the U.S. Army will order an unspecified number of AV's Switchblade 600 Block 2 and Switchblade 300 Block 20 loitering munition systems armed with explosively formed penetrators (EFP).
AeroVironment investors made the logical choice and bid up this maker of military drones 1.7% yesterday. But today they're taking that money back -- and more. As of this writing, not only is AeroVironment stock below where it traded the day before the contract was announced; it's actually trading back near levels last seen mid-month.
Source Fool.com
Aerovironment Stock
€166.15
0.670%
The stock is one of the favorites of our community with 60 Buy predictions and 1 Sell predictions.
With a target price of 267 € there is a hugely positive potential of 60.7% for Aerovironment compared to the current price of 166.15 €.
