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Nuclear weapons manufacturers see stock prices rise 

Nuclear weapons manufacturers see stock prices rise amid Russia’s invasion of Ukraine

CNBC,  MON, APR 25 2022 Charlotte Morabito @IN/CHARLOTTEMORABITO/ @MORABITOCM     Since Russia’s invasion of Ukraine, many defense stocks have skyrocketed.  Defense companies secure billions of dollars every year from government contracts to maintain and construct nuclear weapons.A March 2022 analyst note from Citi predicts that the “defense [sector] is likely to be increasingly seen as a necessity that facilitates ESG as an enterprise, as well as maintaining peace, stability and other social goods.”

Many of these companies like Northrop GrummanGeneral DynamicsLockheed Martin and Raytheon are publicly traded, which means they have millions of shareholders and investors.

“We’ve seen even the biggest defense contractors in the world will change their business with pressure from the investment community,” said Susi Snyder, financial sector coordinator at the International Campaign to Abolish Nuclear Weapons. “And that pressure comes from everyday investors.”

The Congressional Budget Office projects that the U.S. government could spend $634 billion between 2021 and 2030 on nuclear forces. This is a $140 billion increase from the previous estimate of $494 billion between 2019 and 2028.



April 26, 2022 - Posted by | 2 WORLD, business and costs, weapons and war

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