AeroVironment Stock Soared on a Blowout Quarter. Is the Drone Boom Just Getting Started?
A record quarter got the headlines -- but the counter-drone business behind it may be the bigger prize.
Overview
Shares of AeroVironment (NASDAQ: AVAV) soared more than 20% this week, to around $171, after the drone and defense specialist reported its fiscal fourth-quarter results. The quarter was a blowout by almost any measure -- record revenue, adjusted profits that more than doubled, and a funded backlog that swelled past $1 billion.
Is this the start of a multiyear up cycle in military drones and the systems built to stop them, or a one-quarter spike that borrows from future demand and leaves a harder comparison behind?
Details
The answer rests less on the drones AeroVironment is already known for and more on what it's building next.
Source
Originally published at www.fool.com.