As Israel ruthlessly destroys the besieged Gaza Strip, its largest developer of military technology, Elbit Systems, is benefitting from the bloodshed.
US-traded shares of Elbit have climbed 6.1 percent since 8 July, when Israel began its latest offensive against the Gaza Strip.
According to Bloomberg BusinessWeek, Israel’s three-week long massacre of 1,200 Palestinians in Gaza, including nearly 300 children, “has pushed [Elbit’s] stock close to the highest level since 2010 while its valuation on a price-to-earnings basis is near the most expensive in five years.”
The rising stock is driven by speculation that the Haifa-based company will see increasing demand for its products from both the Israeli and foreign governments impressed by Elbit’s blood-soaked performance in Gaza.
Palestine is a laboratory
Like most Israeli military contractors, Elbit benefits from Israel’s decades-long brutal occupation of Palestine, which serves as a laboratory for Israel’s ballooning “homeland security” industry to test…
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