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Congress buys up US Defense Industry war stocks ahead of Hamas attack on Israel
For starters, defense company General Dynamics (NYSE: GD) has witnessed a surge in purchases. This isn’t entirely unexpected; defense stocks often become attractive during times of geopolitical tension. Remember the Ukrainian war? We saw a similar trend then. However, what’s even more intriguing is the sectoral split between Republicans and Democrats. A substantial number of Republicans have shown a keen interest in the energy sector. Heavyweights like Exxon Mobil (NYSE: XOM), Devon Energy (NYSE: DVN), and Chevron (NYSE: CVX) are clearly the favorites. On the other side of the aisle, Democrats seem to be playing the long game, focusing on the cybersecurity sector with acquisitions in firms like Fortinet (NASDAQ: FTNT), according to insights by @unusual_whales on X (formerly Twitter) on October 9 Posted by: Besoeker 2023-10-14 |
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