Why AgEagle Aerial Systems Stock Rocketed 18% at the Open Today
Shares of AgEagle Aerial Systems (NYSEMKT: UAVS) rose a quick 18% when trading got underway on April 1. The news driving that price increase actually came on the last day of March, when the company reported quarterly earnings following the close of trading. There was bad news ... and good news.
If you look at the bottom line here, AgEagle, which makes aerial drones, had terrible results last year. In fact, the fiscal year 2020 loss of $0.35 per share was up materially from the $0.17 per-share loss it experienced in 2019. That's just over a 100% increase in red ink, which you would normally expect to worry investors. But the real story here isn't earnings right now -- it's revenue.
Image source: Getty Images.
Source Fool.com
