Why These Defense Stocks Are Declining This Week

5. Draganfly Inc. (NASDAQ:DPRO)

Weekly Decline: -13.59%

Draganfly Inc. (NASDAQ:DPRO) develops cutting-edge unmanned and remote data collection and analysis platforms and systems. It is among the defense stocks that are declining this week, with a slump of 13.59% since March 24.

Shares crashed after Draganfly Inc. (NASDAQ:DPRO)’s Q4 2024 earnings call on Thursday, in which the company reported a modest 0.1% increase in its revenue for fiscal 2024. Gross profit also decreased by 32.3% from the prior year. The gross margin stood at 21.3%, compared to 31.5% in 2023.

Draganfly Inc. (NASDAQ:DPRO) recorded a net loss of $14.06 million for the year. While this was an improvement from the loss of $23.71 million in the fiscal year 2023, the company is not expected to achieve profitability until 2026, which is hurting investor sentiment. DPRO is also one of the worst performing stocks this year, with a YTD dip of 42%.