Why Applied Aerospace & Defense Was Sliding This Week

On Tuesday, Applied Aerospace & Defense (NYSE: AADX) released its first quarterly earnings report as a publicly traded company. This wasn't necessarily a memorable occasion, as it fell well short of analyst bottom-line estimates.Investors aggressively sold the stock to leave it dangling below the $20 per share IPO price. According to data compiled by S&P Global Market Intelligence, as of early Friday afternoon, the company's shares were down by nearly 15% week to date. Applied Aerospace took the wraps off its second quarter on Tuesday. The company, which is notable for being a supplier of advanced components to the high-profile Space Exploration Technologies, or SpaceX, earned just over $167 million in revenue. That was up by 47% year over year. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool