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Here's Why AeroVironment (AVAV) Stock Is Plunging Today

NEW YORK (TheStreet) -- Shares of AeroVironment (AVAV) were plummeting 18.56% to $24.26 on heavy trading volume mid-afternoon Wednesday after the company posted worse-than-expected results for the 2017 fiscal first quarter.

After yesterday's closing bell, the Monrovia, CA-based drone maker reported a loss of 51 cents per share, far wider than analysts' projections for a loss of 17 cents per share.

Last year, the company had a loss of 30 cents per share.

Revenue for the period was $36.2 million, below analysts'...