Rheinmetall Investors Eye August 6 as Stock Sheds 38% Despite Kuwait, Laser and UK Deals
Published on 07/13/2026 at 21:33 | Redaktion boerse-global.de
A protest led by Greta Thunberg outside Rheinmetall’s Berlin offices on Monday underscored a growing reputational challenge for Europe’s largest defence contractor — one that no amount of fresh orders seems able to counteract. The shares closed at €985.00, down 0.8% on the day, extending a slide that has wiped 38.5% from the stock since the start of the year and 47.3% over the past twelve months.
The timing of the demonstration, staged by the group “Peacefully Against Genocide” over Rheinmetall’s weapons sales to Israel, coincided with a flurry of contract announcements that would normally lift any defence stock. On July 9, Rheinmetall and MBDA Deutschland won a mandate to develop a high-energy laser weapon system for the German Navy. Days earlier, on July 7, the company signed a memorandum of understanding with Lockheed Martin to build Europe’s first production line for ATACMS missiles at its Unterlüß site. And just before those, Rheinmetall joined the Omnia consortium to digitise the British Army’s combat training — a deal worth nearly €1 billion over 15 years.
Yet none of this has arrested the decline. The stock is now trading barely 9% above its 52-week low of €902.50, set on June 25, and stands 50.6% below the September 2025 peak of €1,995.00. The market’s indifference to the latest wins reflects a deeper scepticism that has taken hold since late June, when the German defence ministry cancelled the F126 frigate programme. Rheinmetall had just acquired the naval division NVL and was seen as the leading contender for the prime contractor role. The cancellation means revenue losses of up to €300 million this year alone — a manageable sum against the group’s €73 billion order backlog, but a sharp reminder that political decisions can undercut even the best-placed suppliers.
Should investors sell immediately? Or is it worth buying Rheinmetall?
The protest, while difficult to link directly to daily price action, adds a further layer of uncertainty. Rheinmetall now operates under a level of public and political scrutiny that was all but absent a few years ago, and the reputational overhang can affect institutional sentiment and procurement dynamics over time.
Chart-based measures reinforce the bearish mood. The stock trades 15.2% below its 50-day moving average of €1,161.17 and nearly 35% below the 200-day average of €1,513.96. The 14-day relative strength index (RSI) stands at 36.5, indicating persistent selling pressure without yet reaching oversold territory. A 30-day annualised volatility of 68.75% — exceptionally high for a DAX constituent — suggests the market sees this equity as a high-risk bet.
Among the recent contracts, the Kuwaiti order for MASS decoy launchers, valued in the mid-double-digit millions and destined for eight naval vessels, barely registered. Similarly, the laser weapon mandate and the ATACMS initiative, while strategically important for reducing Europe’s reliance on US-made precision munitions, are years away from contributing meaningful revenue.
The next real test comes on August 6, when Rheinmetall publishes its second-quarter results. Investors will be looking for evidence that the torrent of orders is translating into higher sales and, crucially, improving margins. Until then, the market’s focus remains fixed on capacity constraints, the political risk exposed by the F126 cancellation, and whether the company can execute on large-scale projects like the Unterlüß factory without costly delays. A full order book, it turns out, is no longer a guarantee of a rising share price.
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