AgEagle Aerial Systems (UAVS) Stock Falls 13% in a Week: Time to Buy?
Over the course of the past week, the AgEagle Aerial Systems Inc stock has had a pretty tough time and tanked by as much as 13% amidst a selloff. Although it is true that it was a significant slide, at the same time, it is also important for investors to keep in mind that there was no news about AgEagle Aerial Systems (NYSEAMERICAN:UAVS) that might have triggered it.
Hence, it could be a good move to take a look at some of the recent developments. Back on June 17, the company announced that it promoted Jesse Stepler to the position of President of Measure Global, a company that is owned by AgEagle Aerial Systems.
In addition to that, two other considerably experienced professionals were appointed in key roles. Stepler is a highly experienced executive and had earlier served as the President of Measure Global. On top of that, it is also important to point out that Stepler had served in that role up until the board of directors appointed him as the Chief Executive Officer of AgEagle Aerial Systems. This is a significant development for both Measure Global and by extension, for AgEagle Aerial Systems.
Market Reaction:
On Friday, UAVS stock went up 0.40% at $5.01 with more than 1.6 million shares, compared to its average volume of 4.04 million shares. The stock had moved within a range of $4.90 – 5.14 after opening the trade at $5.10. Over the past 52-week, the stock has been trading within a range of $1.38 – 17.68.
