Shares of AeroVironment, Inc. (AVAV) are moving up about 8 percent during Tuesday morning trading over its plan to invest over $30 million to significantly expand its manufacturing operations in Albuquerque, New Mexico.
The company's shares are currently trading at $226.93 on the Nasdaq, up 8.65 percent. The stock opened at $214.50 and has climbed as high as $230.90 so far in today's session. Over the past year, it has traded in a range of $102.25 to $417.86.
The investment would expand AV's manufacturing operations across its three existing manufacturing sites in the Sandia Science & Technology Park while supporting major capital equipment purchases and workforce growth.
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