Leonardo DRS Inc. (DRS)

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Why is Leonardo DRS Inc. (DRS) Stock down?

We've noticed a 5.15% decline in Leonardo DRS Inc. (DRS) stock during the 2024-03-14 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

16 Nov, 2023:

Leonardo Drs Inc Stock (DRS) dropped by 11.21% from $20.79 to $18.46 in the trading on Thursday November 16, 2023. The reasons why DRS stock down today is due to the DRS stake in US cut.

Italian aerospace and defense giant Leonardo is scaling back its presence in the United States, signaling a shift in strategic focus towards European defense projects.
The company announced plans to sell a 6.3% minority stake in its U.S. subsidiary DRS, generating proceeds of around $344 million. This move reflects the new CEO Roberto Cingolani's vision for Leonardo, prioritizing expansion within Europe's defense industry.