Nukkleus Inc. (NASDAQ:NUKK) shares are trending on Tuesday.
Check out the current price of NUKK stock here.
After-Hours Rally Follows IPO Cancellation
Shares of Nukkleus, a global aerospace and defense (A&D) firm, surged 16.12% to $5.98 in after-hours trading on Monday, following the company’s formal withdrawal of its S-1 registration statement from the Securities and Exchange Commission.
See Also: Chipotle Stock Is Rising After Hours: Here’s Why
Company Abandons Public Offering Plans
The New York-based company filed a withdrawal request with the SEC on Monday, citing its decision “not to proceed with the offering contemplated by the Registration Statement.” The original S-1 filing, submitted on February 12 and amended on June 15, has been officially pulled with no securities sold.
Strategic Implications for Investors
Nukkleus saw a rise in trading activity after CEO Menachem Shalom signed a formal filing to withdraw from the SEC. The stock’s trading volume averaged 6.87 million shares, and the investment firm managed to keep its NASDAQ listing, even though it decided to cancel its public offering.
Market Cap and Trading Metrics
In the past six months, Nukkleus’ stock has seen a significant decline of 64.56%, dropping from a six-month high of $21.69 in May to $5.15 yesterday, with trading volume increasing from 1.6 million shares to 2.3 million. Despite this, the stock has rebounded recently, posting a 25.61% gain over the past month, while maintaining an impressive 234.42% increase over the last year.
With a market capitalization of $36.42 million, NUKK has demonstrated extreme volatility over the past year, trading between $1.30 and $78.32.
Price Action: The fintech company soared 13.94% during regular trading on Monday, according to Benzinga Pro data.
Benzinga’s Edge Stock Rankings show that NUKK is in the 90th percentile for momentum, but it has a negative price trend across all time periods. Find out how its momentum compares to other well-known stocks.
Read Next:
Photo Courtesy: Korot Yurii on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
