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Barchart
Wajeeh Khan

The $89 Million Reason AVAV Stock Is Down Today

AVAV AeroVironment Barchart

AeroVironment (AVAV) stock plunged to a 52-week low on Tuesday after management disclosed an $89 million goodwill calculation error related to the company’s space unit.

The restatement affected financial statements for the three months and nine months ending Jan. 31, forcing investors to reassess the reliability of the company’s reported figures and undermining confidence in management's financial controls.

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