$AVAV Over-Extended - Earnings Next Week
AVAV Appears to be over-extended after gaining almost 50% since its last earnings report in late June. Volume has been unimpressive on its latest run up since early August. I believe a solid beat next week is already priced into the stock for the most part with a P/E more than triple the industry avg (79x vs 23x avg).Expecting a return back down to earth in the near term - target $70-$75 area by mid-September.
Note: Informational analysis, not investment advice.
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