Currently, two Israeli military technology companies are listed on the Nasdaq: Leonardo DRS Inc. (DRS) and Elbit Systems (ESLT).
Their share prices have risen over the past week, coinciding with the outbreak of a large-scale war between Israel and Palestinian militant groups since Saturday, October 7, 2023.
DRS and ESLT are issuers that produce fighter jets, helicopters, unmanned military aircraft, intelligence computer systems, and various other war technologies.
In October 2023, DRS and ESLT were both among the top 10 Israeli issuers by market capitalization (big cap) on the Nasdaq.
On October 6, 2023, the day before the Israel-Palestine war broke out, DRS's share price was at US$16.86.
By the 7th day of the war, October 13, 2023, DRS's share price had increased by 12.04% to US$18.89.
ESLT experienced a similar trend, with its share price rising by 1.8% during the same period.
The strengthening of DRS and ESLT share prices contrasts with other Israeli big-cap stocks in other sectors, which generally weakened during the first week of the Israel-Palestine war.
Here's a breakdown of the percentage increase/decrease in the prices of 10 Israeli big-cap stocks on the Nasdaq from October 6-13, 2023, grouped by sector:
Military Technology Sector:
* Leonardo DRS Inc. (DRS): increased by 12.04%
* Elbit Systems (ESLT): increased by 1.8%
Electronic Data Processing Sector:
* Playtika (PLTK): decreased by 0.53%
* Wix.com (WIX): decreased by 8.03%
Semiconductor Sector:
* SolarEdge Technologies (SEDG): decreased by 3.4%
Computer Manufacturing/Production Sector:
* NICE Ltd. American Depositary (NICE): decreased by 6.6%
Software Sector:
* Check Point Software Technologies (CHKP): decreased by 1.98%
* CyberArk Software (CYBR): decreased by 2.85%
* Monday.com (MNDY): decreased by 11.69%
* Global-E Online (GLBE): decreased by 12.03%