🔴 Rheinmetall drops 3% as stock goes ex-dividend

Rheinmetall (RHM.DE) is trading at €1116.00 (-3%) as the stock price adjusts downward after going ex-dividend today, compounding a recent selloff.

• The primary catalyst for today's drop is the stock trading ex-dividend for its annual dividend, which was previously announced.
• The move extends a sharp multi-day selloff that began after a Q1 earnings miss on May 7 and was accelerated by a JPMorgan downgrade on May 11.
• Broader market pressure, stemming from higher-than-expected U.S. inflation data and geopolitical tensions in the Middle East, continues to weigh on investor sentiment.