Why AeroVironment Stock Dived by More Than 20% Last Month
It wasn't because of the company's recent performance; that was stellar.
Overview
In an age where drones are reshaping the modes and methods of aerial warfare, among other fields, AeroVironment (NASDAQ: AVAV) has been a red-hot stock recently.
In June, however, sentiment toward the next-generation defense company's stock cooled considerably, mainly due to accounting errors affecting two sets of financial statements. This had a lingering, deleterious effect on the stock, which ultimately lost more than 20% of its value over the month.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.