Why Redwire Stock Just Crashed
Investors made a lot of money on Redwire stock over the past year, but now it's time to sell.
Redwire (NYSE: RDW) stock, a specialist in building infrastructure in space, just won a NASA contract of unspecified value, to "facilitate a Space Microalgae biotechnology experiment" that will be carried to the International Space Station aboard the upcoming Axiom Mission 4.
Redwire stock is not up on the news, however, but rather down a staggering 9.8% through 2:20 p.m. ET. But here's the thing: Redwire's sell-off is not because of the new NASA contract; it's in spite of it.
Image source: Getty Images.
