<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

航空國防投資組合 ETF - PowerShares

EUAD

美國航天國防股指數 ETF - iShares

標普航天與國防 ETF - SPDR

ARKX

WDEF

<p>價格暫時未能確認故事，Rheinmetall 股價下跌約 30%，未能突破高點，但基本面依然強勁。國防支出正在加速，盈利動能保持不變，而和平的可能性持續下降。當價格在強勁基本面下走弱時，往往更多地反映出市場的定位，而非故事本身。過去六個月的情況相當艱難</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

戰爭交易達到頂峯？儘管預算大幅增加，歐洲的國防股仍然下滑