price down icon9.89%   -0.0922

Why is Nukkleus Inc (NUKK) Stock down?

We've noticed a 9.89% decline in Nukkleus Inc (NUKK) stock during the 2024-05-29 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!
18 Jan, 2024:

Nukkleus Inc (NUKK) stock dropped by 30.49% due to a recent announcement regarding its intention to increase holdings in Jacobi Asset Management, but its Q4 profit was lower than expected. On January 16, 2024, Nukkleus Inc. revealed the signing of a Memorandum of Understanding (MOU), which outlines plans for a significant expansion of its holdings in Jacobi Asset Management ("Jacobi"). Jacobi is renowned as the sponsor of Europe's sole regulated and approved Bitcoin spot ETF, traded on Euronext. This strategic alignment aligns with Nukkleus' vision to lead in the fintech industry and extends its presence into innovative financial markets.The MOU sets the stage for Nukkleus to negotiate the acquisition of an additional 10% stake in Jacobi, along with an option to acquire One Hoxton Holding Ltd, which would hold an additional 6% of Jacobi. If realized, this acquisition, in conjunction with Nukkleus' existing holdings, would result in Nukkleus holding approximately 20% of Jacobi. The MOU also grants Nukkleus a right of first refusal in these negotiations.

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