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AeroAmbiente (NASDAQ: AVAV) closed -7% on Friday after the US State Department. cleared the potential sale of Altius 600M-V unmanned aerial vehicles from rival Anduril Industries to Taiwan in a ~$300 million deal.
The sale would include 291 Altius 600M-V systems, Altius 600 inert training UAV, tires Integrated launch systems, PILS transport trailers, ground control systems, associated support and other services, the Defense Security Cooperation Agency said.
The United States also authorized a much smaller sale of 720 Switchblade 300 drones from AeroVironment (AVAV), valued at $60 million; Both sales must be approved by the United States Congress.
“This potential $300 million Anduril order would be one of the largest orders in the loitering munitions industry,” William Blair analyst Louie DiPalma wrote, according to Bloomberg.
AeroVironment (AVAV) shares fell nearly 16% in two days after hitting an all-time intraday high of $224 early Thursday morning.
