Defense Stock Bucking the Broad Market Trend

VVX has come off its November highs but is deeply oversold

Patrick Martin

Managing Editor

Dec 30, 2024 at 10:43 AM

V2X Inc (NYSE:VVX) stock is brushing off the broad market selloff today, after the defense name secured a $170 million contract with the Drug Enforcement Administration (DEA). At last check, VVX is up 0.3% to trade at $47.11, one of the few positive names on the New York Stock Exchange (NYSE) today.

The stock earlier traded as high as $47.87, but succumbed to broad market headwinds. Regardless, the gains today have VVX holding its year-to-date and year-over-year breakeven levels. The shares are stumbling into 2025 with a 15.4% fourth-quarter deficit, and have shed 32.7% off their Nov. 11 record high of $69.75. Keep an eye on the shares' 320-day moving average, a trendline breached earlier this month that stepped up as support back in the summer.

At last check, the equity's 14-Day Relative Strength Index (RSI) sits deep in oversold territory at 12.5, so a sustained short-term bounce could be in the cards.

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