LMT - Why Defense Stocks Lockheed Martin AeroVironment and Rada Electronic All Popped Today
Russian military forces attacked neighboring Ukraine last week, and prompted a strong response from the West. In addition to diplomatic condemnation and economic sanctions, we are now seeing a military response -- of sorts -- as nation after nation announces weapons shipments to bolster Ukraine.
What's more, NATO nations are beginning to respond to the crisis with promises to increase defense spending of their own. As this news filters out, defense stocks are going up, and as of 11:15 a.m. ET: Lockheed Martin (NYSE: LMT) has gained 5.3%, AeroVironment (NASDAQ: AVAV) is up 7%, and tiny Rada Electronic Industries (NASDAQ: RADA) is doing best of all -- up 14.5%.
Image source: Getty Images.
For further details see:
Why Defense Stocks Lockheed Martin, AeroVironment, and Rada Electronic All Popped Today