Why Defense Stocks Soared Through The Sequester
Despite threats of Armageddon from
Major companies like General Dynamics and Lockheed initially showed losses back in February, but now that the automatic cuts kicked in on March 1, the heavy hitters have been able to soar above market averages.
While the S&P is up 3.7 percent and the Dow Jones industrial average has risen 4.3 percent,
Rich Smith, a contributing writer to The Motley Fool, put together a good video explaining the difference between rhetoric and reality.
"All the people who have been telling you the
“There was a great deal of fear about sequestration, and some of that is proving a bit overdone,” Richard Aboulafia, a defense analyst at the Teal Group, told The Hill. “While it’s a softer budget outlook, it’s still a very big market. It’s not as though we’re experiencing the same kind of drawdown we saw after the Cold War.”
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