Lockheed Martin Shares Plunge on F-35 Order Cut

Lockheed Martin shares fell over 5% on June 11, 2025, after reports that the Pentagon reduced its Air Force F-35 procurement request for fiscal 2026 from 48 to 24 jets. This marks the company's steepest one-day percentage drop since late March, with shares hitting a low of $443.41 and approaching their lowest close since early April. The F-35 program, which represents about 30% of Lockheed's revenue, is central to its financial outlook, and the order cut signals significant long-term challenges. The decline also affected the broader defense sector and shifted risk sentiment in financial markets, including cryptocurrencies. Lockheed and the Defense Department did not immediately respond to requests for comment. Shares are now down over 27% from their all-time high in October 2024.