AeroVironment Shares Slide as Rival Drone Maker Eyes $300m Win

<-rte-company state="{"_id":"00000190-3bea-d497-a7fb-ffef1b3d0000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">AeroVironment shares have fallen as much as 15% over the past two sessions — on pace for their biggest such decline in over a year — after the US State Department approved a potential arms sale to Taiwan that hands private rival Anduril Industries an order that’s about five times bigger than what AVAV won.

• A potential <-bsp-bb-link state="{"bbDocId":"SFAYNSMB2SJL","_id":"00000190-3bea-d497-a7fb-ffef1b3e0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">$300 millionorder for Anduril’s Altius 600M-V systems compares to the estimated $60.2 million cost for AVAV’S <-bsp-bb-link state="{"bbDocId":"SFAYNSMB2SJM","_id":"00000190-3bea-d497-a7fb-ffef1b3e0001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Switchblade-300 drones; both orders still need approval from Congress
• “This potential $300 million Anduril order would be one of the largest orders in the loitering ...