The Business of Making Drones
Drone maker AeroVironment’s stock has taken a beating lately, said Jim Cramer on CNBC’s “Mad Money,” asking when enough is enough.
AeroVironment is the U.S. military’s supplier of small, unmanned aircraft, commonly referred to as drones. The use of drones has expanded dramatically over the last decade, but with the Iraq War over and the war in Afghanistan winding down, Cramer said some investors are concerned about the company’s prospects. In turn, its stock is down 20 percent for the year.
When AeroVironment reported earnings on June 26, though, it posted stellar results. It posted 9-cent earnings off a 71-cent basis along with bullish guidance for the 2013 fiscal year.
Cramer wanted to hear more about its prospects, so welcomed CEO Tim Conver onto Friday’s program. Watch the video to see the full interview.
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