Defense Contract Win Boosts AeroVironment Shares in Premarket Trading

Stock News

07/02

Shares of AeroVironment (AVAV.US) surged nearly 10% in early trading on Thursday, extending a three-day rally that has seen the stock climb approximately 35%. The stock is currently trading at $188.42.

The significant price movement follows news that the company has secured a major defense contract. The U.S. Department of Defense announced in a statement on Wednesday evening that AeroVironment has been awarded a contract valued at $500 million. This contract is for the procurement of commercial counter-unmanned aircraft systems and counter-small unmanned aircraft system capabilities for the U.S. Army.

According to the official statement, the work related to this project is scheduled for completion by June 29, 2029.

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The stock is currently trading at $188.42.<br><br>The significant price movement follows news that the company has secured a major defense contract. The U.S. Department of Defense announced in a statement on Wednesday evening that <b>AeroVironment</b> has been awarded a contract valued at $500 million. 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