CPI Aerostructures shares soar 19.5%
Douglas McCrosson, CEO of CPI Aerostructures, stands on the manufacturing floor where they make leading edges for the Gulfstream G650 aircraft. Credit: Heather Walsh
Shares of CPI Aerostructures Inc. soared 19.5 percent to $6.80 Monday, placing it among the 10 biggest U.S. percentage gainers, according to Yahoo Finance.
There was no news on the Edgewood-based maker of structural parts for military and civilian aircraft.
Chief executive Douglas McCrosson said in an email that investors may be focusing more on future prospects than on the wing-replacement program for the A-10 Warthog, which the Pentagon is seeking to retire.
“Time will tell but the stock has been very bullish since the earnings call,” he said. The company announced first quarter results on May 10.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
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