The Rolls-Royce (LSE: RR) share price has been one of the great comeback stories of the past three years. So after watching it drop more than 10% in the space of a month, I thought I’d dig deeper.

As I write ahead of Tuesday’s (7 April) market open, the company’s shares are sitting at 1,191.5p — down sharply from the recent highs that had made it a FTSE 100 darling.

So, what on earth’s going on?

Primed for growth?

On the surface, the investment case looks stronger than ever.

Geopolitical tensions are rising. NATO members are scrambling to hit the 2% of GDP defence spending target, with several committing to go further.

The UK government has pledged to lift defence…