Why These Defense Stocks Are Declining This Week

2. KWESST Micro Systems Inc. (NASDAQ:KWE)

Weekly Decline: -14.10%

KWESST Micro Systems Inc. (NASDAQ:KWE) is engaged in the development of tactical systems and ammunition for military and security forces. It is among the defense stocks that are declining this week.

Last week, the company shared a press release, providing context on the special shareholder meeting convened on March 31. KWESST Micro Systems Inc. (NASDAQ:KWE) stated that the purpose of the meeting is to seek shareholder approval of a resolution related to a proposed share consolidation.

KWESST Micro Systems Inc. (NASDAQ:KWE)’s share price has crashed by 57% so far this year, as the company faces pressures to regain compliance with NASDAQ’s minimum $1 bid price per share requirement by May 12. As of the close of business on Friday, March 21, the stock was trading at $0.3102 per share.