CSG Brings in Raytheon Veteran to Spearhead US Push as Stock Tumbles to Near-52-Week Low
Published on 06/24/2026 at 11:12 | Redaktion boerse-global.de
The Czechoslovak Group (CSG) has made a high-profile hire to accelerate its American ambitions, but the market is giving the move a cold shoulder. Shares plunged more than 6% on Wednesday to €12.98, piercing the previous 52-week low of €13.62 and deepening a rout that has erased nearly two-thirds of the stock’s value since January. The appointment of David Jacobs, a former Northrop Grumman and Raytheon executive with over $200 billion in deal experience, as president of CSG Defense North America failed to stem the selling pressure.
Jacobs will run the new Washington office and report directly to majority owner Michal Strnad. His brief: steer North American strategy and line up acquisitions. Investors, however, are demanding more than a marquee name. They want contracts to follow. CSG already booked a significant US Army order for artillery ammunition last year through its MSM Group subsidiary, and the new capital office is meant to replicate that success. But with the stock now trading 64% below the January record of around €36 and well beneath the €25 IPO price, patience is wearing thin.
The disconnect between CSG’s operational momentum and its stock performance is stark. On the Eurosatory defense fair floor, the company unveiled the Trident multi-layered air defense system developed with Turkish partner Roketsan, combining missiles, cannons and electronic warfare to shield military formations and strategic assets from drones and aerial attacks. The order book stood at a massive €17 billion at the end of March, underpinning a revenue forecast of €7.5 billion for the current financial year at an operating margin of around 24%.
Should investors sell immediately? Or is it worth buying CSG?
Yet the technical picture offers little comfort. The stock closed far below its 50-day moving average of €17.06, and the relative strength index has dropped to 28 — deep in oversold territory and signaling extreme bearish sentiment. Over the past month alone, CSG shares have lost roughly 30% of their value, a slide that rivals the broader sell-off in European defense names despite the sector’s fundamental strength.
For the stock to stage a meaningful recovery, Jacobs will need to quickly convert his extensive network — honed over 15 years at US defense primes — into tangible deals that can start flowing through the income statement. Until then, the weight of a full order book is doing little to lift a share price that many now consider technically broken.
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