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Why Did Kratos Stock Drop Today?

TheMotleyFool

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Why Did Kratos Stock Drop Today?Photo, wide shot, wide-angle lens, Metal fabrication, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.midjourneyapi.xyz/temp/138548fd-aba2-4b3e-b9ee-93725b372952.png

Kratos Defense Security (NASDAQ: KTOS) stock declined 3% through 11:05 a.m. ET Tuesday -- on apparently good news.

Kratos announced this morning that the U.S. Department of Defense has picked it "to participate in the initial Phase 1 Gauntlet for the Office of the Secretary of War's Drone Dominance Program."

"Drone Dominance" sure sounds like a good contract for a military drones stock like Kratos to win! So why is Kratos stock down today?

Source Fool.com

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