Kratos Defense Stock Slides Again as Drone Maker’s $1 Billion Growth Bet Faces Test
Kratos Defense shares dropped 6.5% to $61.26, cutting its market value to $10.6 billion as investors questioned the pace of profit from new contracts. The company recently completed the first flight of its Mk1 Firejet drone and won a Space Force contract worth up to $446.8 million. AeroVironment, L3Harris, and Northrop Grumman also declined. Kratos raised $1.17 billion in a February share offering.