AeroVironment, Inc. (AVAV) Is Part Of An “Idea-Driven” Market, Says Jim Cramer

We recently published 12 Stocks Jim Cramer Recently Talked About In His “Idea-Driven” Market. AeroVironment, Inc. (NASDAQ:AVAV) is one of the stocks Jim Cramer recently discussed.

AeroVironment, Inc. (NASDAQ:AVAV) is an American defense contractor whose shares have had a great second quarter. The stock has gained 57% year-to-date, primarily on the back of a strong earnings report that saw the firm’s $1.61 in EPS and $275 million in revenue beat analyst estimates of $1.39 and $242 million. However, the shares have experienced fluctuation and dipped by 11.4% after management decided to take advantage of the share price performance to reduce its debt and issue equity. Cramer has been discussing AeroVironment, Inc. (NASDAQ:AVAV) quite frequently these past couple of weeks. The CNBC host believes that he has helped the firm’s shares rise from $180 to $290 in an idea-driven market:

“We are in an idea-driven market and in an idea-driven market I go out with AeroVironment at 190 and then it goes to 290 because I mentioned it in the Mad Dash and then they’re able to do a financing.”

AeroVironment, Inc. (AVAV) Is Part Of An "Idea-Driven" Market, Says Jim Cramer

A rocket on its way to the sky, representing the power of the company’s unmanned aircraft systems.

His previous remarks about AeroVironment, Inc. (NASDAQ:AVAV) mentioned Goldman Sachs:

“Last week on Stop Trading, I said people should buy AeroVironment, I had them on. . .and AeroVironment was at 180, and now AeroVironent’s at 295.

“It was down 17 when I interviewed, when I interviewed Mr. Nawabi, it was down 17.

“The bears had to recognize that they were wrong, that they were betting against the wrong. Goldman came out today and recommended the stock. Yeah I recommended at 186, they recommended at 286. I think I’m early. Does that guy make more money than I do? The guy who recommended at 286? Do you think he should?”

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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.