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Lockheed Martin down 2.7% today despite successful Navy drone test

Lockheed Martin down 2.7% today despite successful Navy drone test

Lockheed Martin stock slipped 2.7% today even though they announced some positive news. They partnered with Saildrone during a naval exercise to successfully test fire missiles from a remote drone boat. They plan to expand this collaboration by putting larger missile launchers and sonar systems on bigger drone vessels. This gives Lockheed a backdoor into Navy drone sales without having to build the boats themselves. It's a bit strange the stock dropped on news of an expanding market.
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