This Next-Gen Defense Stock Is Down 57% and Could Be a Screaming Buy
Kraken Robotics is far from being a household name, and that's part of what gives the stock intriguing potential.
Overview
Kraken Robotics (OTC: KRKNF) is a Canada-based company that develops and manufactures marine technologies. In addition to subsea batteries used in underwater drones, the company produces sonar systems and other sensors that provide information about the ocean floor and the movement of objects underwater. While the defense industry is the company's biggest market, its technologies are also used in the offshore energy industry.
Spurred by excitement surrounding next-gen defense stocks and the announcement of the company's acquisition of Covelya Group, Kraken stock hit a lifetime high of $8.13 per share in March 2026 -- but the stock has struggled in subsequent trading. As of this writing, Kraken trades down 57% from its high. Is the stock a buy right now?
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.