AeroVironment drops 7% on debt pay off plan

Aviation After the Defense Contractor, the share fell 7% on Tuesday He said he planned To pay the debt in 2030 to repay the debt, 750 million dollars of ordinary stocks and $ 600 million can be converted senior notes.

The drone manufacturer said that it will now use financing for general purposes such as increasing production capacity.

Aerovironment shares increased by 85% this year and the market value rose to approximately $ 13 billion.

Last week, Arlington’s shares Virginia -based company, CNBC’s Jim Cramer, as “next” reached the fourth quarter results. Palantir hardware. ”

Last month, the company also closed the acquisition of $ 4.1 billion by Blue Halo, a space -related defense technology company.

At the beginning of this month, President Donald Trump is a executive order It aimed to increase drone production and reduce unauthorized use in the USA.

The company also has a high short shorter interest level, which may have contributed to some of the latest gains and creates a short squeezing. This phenomenon occurs when a stock price increases, and forces the stock to buy shares to meet the positions and prevent losses.