Ukraine drone supplier AeroVironment soars more than 20%, best day in over two years
Publishing timestamp: 2023-09-07 08:36:37
Summary
AeroVironment's shares rallied 20% on Wednesday after reporting better-than-expected fiscal first-quarter results. The CEO highlighted the company's position in unmanned systems and its support for Ukraine's fight. Analysts upgraded the stock and expect continued order flow for AeroVironment's Switchblade drone. The deployment of this drone in Ukraine is seen as a significant use in combat. The Switchblade 300 and 600 variants have different capabilities and are considered cheaper than other options. The U.S. has allocated a significant amount of funding for Ukraine.
Sentiment: POSITIVE
Keywords: defense, aerovironment inc, u.s. economy, business news, breaking news: markets, ukraine, markets, politics,