Tens of billions evaporated when the Kongsberg share plummeted. Joakim Dahl is considering buying more if the pain gets worse.
The second worst stock market day ever. That was the result for Kongsberg Gruppen’s shares on Thursday this week. The shareholders had to see the price plunge by a whopping 18.25 per cent. NOK 47 billion in market value was blown away.
From Svalbard, Kongsberg shareholder and hobby investor Joakim Dahl followed the journey down.
– It is exciting to follow when a quarterly report comes out. Then you have to come in and follow what’s coming. It should also not be hidden that you pay extra attention when there are such reactions in the market.
Dahl says he has a long-term perspective on the Kongsberg share of around 3–5 years. He has noticed that defense investments in Norway and Europe have picked up recently, and believes the trend will continue.
Six years ago he moved from Skiptvet in Østfold to Svalbard, where he works in a construction company. Dahl believes Kongsberg Gruppen will become important in the northern areas in the future.
– We live in an area of great strategic importance. Both for preparedness, security and monitoring. Increased defense investments mean that there will also be more projects in the Arctic, he says.
Belief in the long term meant that Dahl sat quietly in the boat.
– There may be many who think “now I just have to sell”, but I don’t think there is anything hugely dramatic about it, compared to the fact that I think it was a natural reaction to the news that came, he says of Thursday’s share race.
CEO resignation, split and result
Table of Contents
- 1. CEO resignation, split and result
- 2. Analysts are betting again after the Kongsberg crack
- 3. – You have to buy down
- 4. Sold out
- 5. Kristin Skaug
- 6. What specific marketing funnels are you targeting with your content, and how does your content strategy align with those funnels?
- 7. Unlock the Expertise of E24: Your Ultimate Guide to Leveraging Content Writing Skills Beyond Virtual Assistance
- 8. From Support to Strategy: The E24 Skillset Evolution
- 9. Defining the Content Writing Landscape: Beyond Blog Posts
- 10. Mastering the Core skills: A Content Writer’s Toolkit
- 11. Building Your Portfolio: Show, Don’t Just tell
- 12. Pricing Your Services: Value-Based vs. Hourly
- 13. Finding High-Value Clients: Beyond the VA Marketplace
The share collapse of the arms and technology group on Thursday started with something disappointing quarterly results. At the same time, there was an announcement that Kongsberg Maritim is being separated into a separate company. The shareholders in the Kongsberg Group will be allocated the same number of shares as they have in the current group.
With the maritime part out, Kongsberg Gruppen becomes an almost pure defense company. Ole-Petter Sjøvold in SB1 Markets believe the split will lead to selling pressure in the Maritim company as many investors were mainly invested in Kongsberg Gruppen to gain exposure to the defense sector.
Read on E24+
Analysts are betting again after the Kongsberg crack
Thursday morning also saw the news that CEO Geir Håøy goes off after the split is completed next year. By then he will have been in the chief’s chair for close to 10 years.
– You have to buy down
Hobby investor Joakim Dahl has heard about the split in Kongsberg Gruppen, but has not decided whether he wants to keep the shares he gets in Kongsberg Maritim. He is skeptical about whether it will be value-creating in the short term.
When asked if he considered selling during the stock crash on Thursday, the answer is clear:
– No, you have to buy downstairs, you know.
– Yes, was there any purchase then?
– Uh, no. It wasn’t to be.
Dahl notes that the share price crept upwards again on Friday, when the share ended up 7.4 per cent.
– It is clear that if it falls more, then it is appropriate to buy, says Dahl.
Sold out
At the end of the trading day on Thursday, there were 69,714 private shareholders in Kongsberg Gruppen, according to AksjeNorge CEO Kristin Skaug. The share is the fourth most owned behind Equinor, DNB and Norwegian.
Kristin Skaug
In terms of value, Kongsberg Gruppen is the second most popular with NOK 15.3 billion invested. Equinor reigns supreme with 17.5 billion as of 30 September.
– There are many who have come after they have heard news that more investment is to be made in defence. Many people find this exciting to take part in. Especially in the spring after the bad meeting between Trump and Zelenskyj. At that time, a huge number of people invested in the share. Something like 3 new ones a minute, she says.
Skaug says that the population of Kongsberg owns shares for a significantly higher value than the rest of the country.
One of them is Lars Bredeveien, who apparently got the timing right when he sold out of Kongsberg Gruppen earlier this year.
He works in Eiendomsmegler 1, and says that the housing market in the city has held up very well in the period that has been.
– If there is a correction to the “cog”, I still believe that the housing market will hold up well, says Bredeveien, and adds that he sees a lot of hiring in the area, where, among other things, new commercial buildings will be built for around 2,500 employees.
What specific marketing funnels are you targeting with your content, and how does your content strategy align with those funnels?
Unlock the Expertise of E24: Your Ultimate Guide to Leveraging Content Writing Skills Beyond Virtual Assistance
From Support to Strategy: The E24 Skillset Evolution
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