Why AeroVironment Shares Lost 15% in September
Shares of AeroVironment (NASDAQ: AVAV) fell 15.7% in September, according to data provided by S&P Global Market Intelligence, with nearly half of that drop occurring immediately after the drone maker released quarterly earnings, and the rest of the decline following as investors digested the results.
AeroVironment is best known as the maker of backpack-size drones used by soldiers to get a better view of what lies around the corner. In early September, the company reported fiscal first-quarter results that at first glance appeared encouraging, but investors had different ideas.
Image source: AeroVironment.
Source Fool.com
