Did AeroVironment Go From Hot to Cold Already?

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By Douglas A. McIntyre Updated Published
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AeroVironment (AVAV-NASDAQ) sure lost its momentum if you consider that it was a hot issue with a 50% premium.  It opened up about 50% from teh pricing yesterday at $25.00 on the first print.  It traded up marginally and then lower to close yesterday at $23.93 on 6.8 million shares.  For a hot IPO the volume felt light and it closed down $0.03 at $23.90  (with a tight $23.70 to $24.38 range today) on only 770,281 shares.  That’s pretty light trading today for a hot issue.

It looks and feels like this one is going to have to settle down to that $22.00 to $23.00 before Cramer comes out and gives it the thumbs up and the volume comes back in.  Part of the problem in this issue is that Cramer gave a play book aheadof the pricing and it stripped out a lot of the IPO whips that tradersnormally like to see.  Cramer gave his play book on this last week.  Here’s what I said right after the open yesterday so you see the same tone. 

Jon C. Ogg
January 24, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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