🔴 AEVEX is trading 8.3% down in pre-market after Navy halted additional BlackSea drone-boat orders

AEVEX is trading 8.3% down at $13.15 after the Navy halted additional purchases of BlackSea’s autonomous GARC boats, citing performance issues and cheaper alternatives.

• Bloomberg reported the halt on October 20; the Navy had spent more than $130 million.
• AEVEX acquired the business in September, making the order halt a company-specific setback.
• An existing securities lawsuit’s lead-plaintiff deadline also fell October 20, but available reporting does not establish it as the cause of the move.