Why Kratos Defense & Security Solutions Stock Slumped 8% in October
Shares of small-cap defense company Kratos Defense & Security Solutions (NASDAQ: KTOS) declined 8% in value over the course of October -- but not because the news was bad.
In fact, Kratos had very little in the way of press releases to share last month, and what news it did have to share was actually pretty good (albeit it came a bit late). On Oct. 30, Kratos confirmed that its experimental jet-powered UTAP-22 Mako combat drone "recently completed" a "demonstration mission" as part of a larger military exercise involving multiple UAVs in addition to Mako.
One day later, on Oct. 31, the company announced receipt of a $14.5 million contract to supply "certain National Security related customers" with eight unidentified UAV models.
Source: Fool.com
