I Bought the Kamikaze Drone Stock $AVAV AeroVironment
Video Summary
Aero Environments is a company that specializes in drones, primarily focusing on tactical missile systems. Its CEO, Wahid Nawabi, showcased the company’s products in an interview with Jim Cramer on CNBC’s “Mad Money” in 2017. The company’s shares are currently around $107, with a market cap of $2.72 billion.
Aero Environments’ Tactical Missile System, Switchblade 600, is capable of destroying armored vehicles. The US military has provided a small number of Switchblade 300s, a smaller version of the drone, to Ukraine for use in the conflict with Russia.
The company has a cyclical effect where its shares are pumped up and then crash, much like all small caps in the last December. Its technical charts show a promising uptrend, with moving averages close to lining up, which could indicate a new direction for the share price. The author, Jake, is looking to buy more shares of Aero Environments, expecting its price to reach $150.
Meanwhile, the author’s portfolio has taken a hit in the recent market downturn. His Schwab account, which was down to $48,000 from a high of $64,000, reflects the significant losses he incurred from leverage and options trades. However, he is optimistic that the market will rebound once earnings reports show positive growth.
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