AeroVironment Says A Protest Has Been Filed With US Government Accountability Office Challenging US Army's Decision On August 27 To Award Contract To Company; US Army Has Issued Stop Work Order On The Contract
Portfolio Pulse from Benzinga Newsdesk
AeroVironment faces a protest filed with the US Government Accountability Office regarding a US Army contract awarded on August 27. The Army has issued a stop work order on this contract, pending the GAO's decision by December 16, 2024. Other contracts remain unaffected.
September 16, 2024 | 10:47 am
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AeroVironment's US Army contract is under protest, leading to a stop work order. The GAO will decide by December 16, 2024. Other contracts are unaffected.
The protest and subsequent stop work order on the US Army contract could negatively impact AeroVironment's stock in the short term due to uncertainty. However, the fact that other contracts are unaffected may mitigate the impact.
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