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NEW YORK - Nukkleus Inc. (NASDAQ: NUKK), a Nasdaq-listed company specializing in the acquisition of high-potential businesses, announced the strategic appointment of Brigadier General (Ret.) Mark Beesley as an Advisor to the Board. The announcement comes as the company's stock shows remarkable momentum, with a 252% return over the past year despite recent volatility. General Beesley will focus on guiding the company's defense sector acquisitions.[Discover more market insights with InvestingPro, which offers 8 additional exclusive tips for NUKK.]
General Beesley, who has served over three decades in the U.S. Air Force, brings to the table his expertise in operations, space, and missile defense. His military career included roles such as Deputy Director for Operations at the National Military Command Center in the Pentagon and Vice Commander of the Seventh Air Force in Korea. After his service, he transitioned to the civilian sector, holding leadership positions in FINRA-approved broker-dealers and as Chief Restructuring Officer for International Jet Management.
In his advisory role, General Beesley is expected to provide insights on strategic acquisitions and partnerships, leveraging his military and business acumen. His appointment is part of Nukkleus's broader strategy to enhance its growth in the defense industry and other key markets.
Menny Shalom, CEO of Nukkleus, praised General Beesley's ability to translate military leadership into actionable strategies for the private sector, highlighting his appointment as a significant asset during a pivotal time for the company.
Nukkleus's recent achievements include resolving key regulatory issues with Nasdaq and achieving significant market cap growth, now standing at $60.2 million, positioning the company for further expansion. While operating with moderate debt levels, the company faces challenges with a current ratio of 0.06 and negative EBITDA of $14.54 million in the last twelve months. The company is focused on driving innovation and operational excellence across various sectors, including defense, financial services, real estate, industrial, and technology.[Want deeper financial analysis? InvestingPro subscribers get access to comprehensive financial health scores and valuation metrics.]
The information for this article is based on a press release statement from Nukkleus Inc. With the company's next earnings report due on February 13, 2025, investors should note its current revenue of $10.75 million and gross profit margin of 4.67%. The company has cautioned readers that the press release contains forward-looking statements, which are based on management's current expectations and are subject to risks and uncertainties.
In other recent news, Nukkleus Inc. has divested its subsidiary, Digital RFQ Limited (DRFQ), to Jamal Khurshid for £1,000. This move aligns with Nukkleus's strategic shift toward the defense sector, addressing the subsidiary's consistent financial losses. Furthermore, Nukkleus Inc. has acquired a majority stake in Star 26 Capital Inc., a defense acquisitions company, for $15 million. This acquisition expands Nukkleus's operations to include the distribution of generators, masts, and lighting solutions for defense and intelligence agencies.
In other recent developments, Two Hands Corp has undergone a significant leadership overhaul. Emil Assentato has assumed control of approximately 57% of the company's issued and outstanding common stock, leading to a change in control at Two Hands Corp. This follows the resignations of several key figures, including Nadav Elituv and Steven Gryfe, with Assentato stepping in as CEO and other major roles.
Despite these strategic moves, Nukkleus Inc. is currently investigating a potential discrepancy in the number of common stock shares it is required to issue following a recent reverse stock split. The company also faces potential delisting from Nasdaq due to compliance issues. These are the recent developments in the ongoing operations of Nukkleus Inc. and Two Hands Corp.
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