AeroVironment Inc is trading 5.7% down at $192.70 as investors lock in gains following a sharp rally triggered by a significant new U.S. Army contract.
- The company secured a $117.3 million firm-fixed-price deal to deliver 82 P550 unmanned aircraft systems to the Army, which sent shares over 5% higher yesterday.
- Today's pullback reflects a normalization and profit-taking phase after the contract-driven spike, occurring against a backdrop of broader market weakness.