In July, Samnytt highlighted that Saab’s owners had earned 120 billion kronor since Russia invaded Ukraine. The Swedish arms manufacturer was then pointed out as one of the major winners of the war. However, over the past month, Saab has lost value on the stock market, and on Tuesday, the company plummeted even further.

It was only a few days ago that several Western leaders took turns making statements about providing Ukraine with long-range missiles that can reach deep into Russia. However, over the previous weekend, reports suggest that U.S. President Joe Biden has rejected this, a stance also taken by German Chancellor Olaf Scholz.

ALSO READ: NATO opens up for long-range missiles against Russia – Putin: Then the war against you begins

A ceasefire seems far off for both Russia and Ukraine – after two and a half years of conflict – while rumors circulate about ongoing discussions between NATO countries regarding the conditions and terms for a ceasefire. This is reported by Bloomberg.

The reports of NATO countries discussing peace come at a time when it is becoming increasingly clear that Ukraine is struggling to resist Russia in the eastern parts of the country.

According to Bloomberg, the discussions involve what a peace agreement could look like, as well as what Ukraine and Russia would be willing to agree to. These rumors have already made an impact on the stock market.

ALSO READ: More and more Ukrainians prepared to give up land for peace with Russia

During Tuesday’s trading, Saab plummeted over five percent, and over the past month, the company has lost nine percent. The German arms manufacturer Rheinmetall fell nearly seven percent on Tuesday.

ALSO READ: Saab’s owners have earned 120 billion on the war in Ukraine