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Why Shares of Rada Electronic Are Down Today

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Why Shares of Rada Electronic Are Down TodayPhoto, wide shot, wide-angle lens, Janitorial service, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/4d4e885c-79e9-4b8f-bd91-e9721cd7c2e9.png

Shares of Rada Electronic Industries (NASDAQ: RADA) fell more than 10% on Tuesday following the release of the Israeli defense company's quarterly results. The business fell short of expectations in the quarter and the full-year guidance was underwhelming, leading to the sell-off.

Rada makes radar, avionics, and other electrical components for the defense sector, including the mini-tactical radars that go onto drones and other battle systems. The company's products are used by militaries of more than 30 countries, and counts defense industry giants including Lockheed Martin, L3Harris, and Boeing among its customers.

Image source: Getty Images.

Source Fool.com

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