<div id="readability-page-1"><div><div><h2><strong>Price stopped confirming the story, for now</strong></h2><p>Rheinmetall is down ~30% after failing to break highs, but the underlying story remains powerful. Defense spending is accelerating, earnings momentum is intact, and peace odds continue to fall. When price weakens despite strong fundamentals, it often says less about the story, and more about positioning</p><h2><strong>Tough past 6 months</strong></h2></div></div></div>

RNMBY

ARMY

航空国防投资组合 ETF - PowerShares

EUAD

美国航天国防股指数 ETF - iShares

标普航天与国防 ETF - SPDR

ARKX

WDEF

<p>价格暂时未能确认故事，Rheinmetall 股价下跌约 30%，未能突破高点，但基本面依然强劲。国防支出正在加速，盈利动能保持不变，而和平的可能性持续下降。当价格在强劲基本面下走弱时，往往更多地反映出市场的定位，而非故事本身。过去六个月的情况相当艰难</p>

Peak War Trade? Europe’s Defense Stocks Slip Despite Exploding Budgets

ZeroHedge

RHEINMETALL AG UNSP ADR EACH REPR 0.2 ORD

Rheinmetall AG

Tema International Defense Innov ETF

Select STOXX Europe Aersspc & Defns ETF

ARK Space Exploration & Innovation ETF

WisdomTree Europe Defense Fund

战争交易达到顶峰？尽管预算大幅增加，欧洲的国防股仍然下滑