US Arms Company Stocks Surge Amidst Israeli-Palestinian War

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Adi Ahdiat 17/10/2023 18:10 WIB

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US weapons company stock prices have risen since the outbreak of the Israeli-Palestinian conflict on Saturday, October 7, 2023.

Lockheed Martin (US Arms Company) Stock Price Movement (October 2-16, 2023)

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Lockheed Martin (US Arms Company) Stock Price Movement (October 2-16, 2023)

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Lockheed Martin Corporation (LMT) is the largest arms dealer in the United States and globally.

Its share price has risen since the outbreak of the Israeli-Palestinian war on Saturday, October 7, 2023.

The day before the war broke out, Friday, October 6, 2023, Lockheed Martin (LMT)'s share price on the New York Stock Exchange (NYSE) was US$400.73.

Then, on the first trading day after the war broke out, Monday, October 9, 2023, LMT's share price jumped 8.9% to US$436.53.

By the 10th day of the war, Monday, September 16, 2023, LMT's share price had reached US$440.41.

A similar trend was experienced by Raytheon Technologies (RTX), the second-largest global arms dealer based in the US.

On the first trading day after the declaration of the Israeli war, RTX's share price jumped 4.6%.

This upward trend continued until the 10th day of the war, Monday, September 16, 2023, when RTX's share price reached US$73.98, its highest level since the beginning of the month.

However, according to Douglas Harned, an analyst from the asset management firm Bernstein, the rise in arms company stocks during wartime is generally limited.

"War stocks typically rise immediately after a geopolitical shock. However, history shows that these increases are generally short-lived and unsustainable," said Douglas Harned, as reported by Forbes on Wednesday, October 11, 2023.

"To continue the rise, defense sector stocks require a significant increase in the US defense budget, which is the main driver of the sector's performance," he continued.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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US Arms Company Stocks Surge Amidst Israeli-Palestinian War

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