Why Kratos Defense Is Up Big Today
The U.S. government appears set to divert some of the billions in funding traditionally earmarked for fighter planes to drone manufacturers, and investors are excited about the opportunity. Shares of Kratos Defense Security (NASDAQ: KTOS) traded up 13% as of 11 a.m. ET following a Pentagon memo stressing the need for more advanced uncrewed systems.
Image source: Kratos Defense Security.
Kratos Defense has been one of the more volatile stocks in the defense sector. The company has a steady business making electronics systems and target practice drones for the U.S. military, but investors have been more excited about the potential for its more advanced developments.
Source Fool.com
