Rheinmetall slumps 12% as traders dump stock after record run [Reuters]
RHEINMETALL AG UNSP/ADR (RNMBY)
NASDAQ:AMEX Investor Relations:
rheinmetall.com/en/rheinmetall_ag/corporate_social_responsibility/stakeholder_2/investoren_2/index.php
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Source: Reuters
one point on Tuesday after earlier hitting its latest record high as traders got nervous about the sustainability of its record-breaking run. By 0910 GMT, Rheinmetall was down 8.7%, bringing year-to-date gains to 78%. One Frankfurt trader said there was no immediate reason to point to and said profit taking was likely behind the plunge. Defence stocks have been among the best performers in Europe so far this year as investors bet on rising military spending. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Reporting by Danilo Masoni, editing by Alun John Our Standards: The Thomson Reuters Trust Principles. , opens new tab
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