Why These Defense Stocks Are Declining This Week

8. Safe Pro Group Inc. (NASDAQ:SPAI)

Weekly Decline: -9.25%

Safe Pro Group Inc. (NASDAQ:SPAI) is a leading provider of security and protection solutions, with expertise in advanced AI/ML software technology for small object threat detection. It is among the defense stocks that are declining this week.

The stock has had volatile returns since its IPO in August because of sharp market reactions to news related to the company. There is also a lack of analyst coverage, which has resulted in low investor recognition. The general downturn in the defense sector is also affecting shares.

Safe Pro Group Inc. (NASDAQ:SPAI) surged after the signing of a multi-year agreement in late February with a leading Ukrainian university on utilizing SPAI’s AI-powered drone image processing technology to develop training programs and build enhanced demining methodologies. However, over the weeks that followed, the stock steadily declined.