Why Shares of Dronemaker AeroVironment Rose 18.6% in March
Shares of unmanned aerial vehicle (UAV) manufacturer AeroVironment (NASDAQ: AVAV) rose 18.6% in March, according to data provided by S&P Global Market Intelligence. It was one of the rare stocks to post a gain during the month, when an oil price drop and coronavirus fallout caused the S&P 500 to fall by 12.5%.
AeroVironment manufactures different types of military drones and is constantly competing for lucrative contracts with the U.S. government and foreign customers. Its shares tend to be pretty volatile, and they certainly bounced around quite a bit in March.
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Source Fool.com
