AeroVironment plunges after U.S. Army drops from drone competition (NASDAQ:AVAV)

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AeroVironment (NASDAQ:AVAV) closed -15.5% on Thursday after its Jump 20 drone was not selected by the U.S. Army to proceed further within the Future Tactical Unmanned Aircraft System program.

In 2021, the Army opened competition for a permanent drone system and, earlier this year, the service

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