14 Million Shares Secondary Aftershock... $500 Billion Vanished from U.S. Aerospace Defense Stocks in a Day

Karman Holdings Inc. (NASDAQ: KRMN) fell 6.69% to close at $47 on the New York Stock Exchange. Trading volume rose to 1,172,627 shares, and the company’s market capitalization slipped to about $6.2 billion (roughly ₩8 trillion), erasing approximately $390 million (around ₩500 billion) in value in a single day.

The decline follows a large secondary offering by existing shareholders, who sold 14 million common shares at $61 each. Because Karman received no proceeds from the sale, the additional supply intensified selling pressure. The total deal amounted to about $854 million (nearly ₩1 trillion), and the stock has traded more than 20% below the offering price since.

Headquartered in Huntington Beach, California, Karman is an aerospace and defense company that designs and manufactures critical components—such as payload fairings, interstages and propulsion systems—for the hypersonic weapons, strategic missile defense, tactical missile and space launch markets. At its NYSE listing in 2025, Karman was valued at approximately $4 billion and was highlighted as a growth stock in the space and missile defense sector.