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I think FN has a lot of the US military contracts now, so it that might help explain why

But FN is a Belgian gun manufacturer, how does this relate to CZG from the Czech Republic?

Colt used to sell many rifles to the US military. They lost that business to FN. And with that they lost a lot of value.

As pointed out downthread, Colt lost military contracts to FN, decreasing stock value

That makes sense, thanks for the clarification.

How does FN enter here? I thought they're owned by the Belgian government?

reduced valuation of Colt