Why AeroVironment Stock Is Falling Today
Shares of drone-maker AeroVironment (NASDAQ: AVAV) have soared in 2021, thanks in no small part to its association with red-hot investment firm Ark Invest. But Tuesday has been a tough day for Ark-related stocks, and AeroVironment is feeling the pressure, trading down as much as 11.4% on a difficult day on Wall Street.
AeroVironment is a maker of small- to mid-sized drones that are primarily used by the military. The stock has been a slow-but-steady performer in recent years, but jumped 32% higher in January.
The company announced an acquisition in the month, but also seemed to benefit from its association with exchange-traded funds (ETFs) run by Cathie Wood's Ark Invest.
Source Fool.com
