RADA - Why Shares of Rada Electronic Are Down Today
Shares of Rada Electronic Industries (NASDAQ: RADA) fell more than 10% on Tuesday following the release of the Israeli defense company's quarterly results. The business fell short of expectations in the quarter and the full-year guidance was underwhelming, leading to the sell-off.
Rada makes radar, avionics, and other electrical components for the defense sector, including the mini-tactical radars that go onto drones and other battle systems. The company's products are used by militaries of more than 30 countries, and counts defense industry giants including Lockheed Martin , L3Harris , and Boeing among its customers.
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Why Shares of Rada Electronic Are Down Today