Why Kratos Defense Stock Sank 12% This Week
Shares of Kratos Defense Security Solutions (NASDAQ: KTOS) sank 12% this week, according to data from S&P Global Market Intelligence. The upstart defense provider of drones and hypersonic technology slipped this week over the potential fallout of the Greenland dispute between the United States and Europe. Even after this downturn, the stock is up 234% in the past year, making it one of the best performers over that timespan.
Here's why Kratos Defense stock fell this week, and whether you should buy the dip for your portfolio.
Global news this week centered on the United States and Europe's dispute over the island of Greenland. Greenland is a strategic area for missile defense and the Arctic. After repeated threats from the United States and President Trump about buying Greenland, European leaders began to retaliate, with some saying they would stop buying U.S. defense equipment if the conflict escalated.
Source Fool.com
