Rheinmetall shares on Friday and other German arms manufacturers lost value. Rheinmetall's share price temporarily lost up to nine percent and fell well below 500 euros. Recently, the price drop has been put back into perspective, standing at just under four percent.
With a sudden drop, the price development in Rheinmetall was similar to that of April 9, when the shares fell for the first time from their all-time high of just under 572 euros. Investors use the recently increased prices to sell their shares and make profits.
The weakness also extended to other German defense actions.
Friday's weakness also spread to other German defense stocks, which had recently fallen from their all-time highs more sharply than Rheinmetall. Hensoldt continued the latest correction with up four percent, but the drop was put into perspective a bit to 2.3 percent.
At Renk, Friday's loss was most recently 6.8 percent after a maximum daily loss of nine percent. Since the all-time high reached in early April, the price of the tank transmission specialist has already fallen by more than 40 percent. Compared to their issue price at the February IPO, which was 15 euros, they remain comfortably in positive numbers with 23.14 euros.