Nukkleus Inc. (NASDAQ:NUKK) stock is trending on Tuesday following the launch of its defense subsidiary.
Defense Expansion Drives Intraday Surge Before After-Hours Decline
Nukkleus ended Tuesday with a strong 17.41% gain at $5.80, but slipped 7.93% to $5.34 in after-hours trading following the company’s announcement of a new defense subsidiary and exclusive U.S. distribution agreement with BladeRanger, a drone innovator.
Check out the current price of NUKK stock here.
The aerospace company established Nukkleus Defense Technologies Inc. as a wholly owned subsidiary focused on defense activities, aligning with its strategy of acquiring high-growth businesses within the aerospace and defense sector.
Exclusive BladeRanger Partnership Secures Three-Year Deal
Under the three-year U.S. distribution agreement, Nukkleus will bring BladeRanger’s proprietary drone payload technology to American markets. The deal includes an option to extend for an additional five years.
“Our expansion into defense reflects both the evolving global security landscape and the opportunities we see in advanced drone technologies,” said CEO Menny Shalom in the announcement.
Technical Analysis
The relative strength index (RSI) hit 70.12, approaching overbought territory, while moving average convergence/divergence (MACD) showed a bullish crossover with converging lines.
According to Benzinga Pro data, the New York-based company gained $0.86 in the regular trading hours on Tuesday before dipping.
Market Cap and Trading Range Context
With a market capitalization of $41.02 million and a 52-week range of $1.30-$78.32, NUKK has gained 126.56% over the past year. The company committed to upfront licensing payments and minimum annual purchase volumes increasing progressively over the agreement term.
Benzinga Edge Stock Rankings indicate that NUKK stock has a negative price trend across all time frames. Find out the stock value of other aerospace companies.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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