Why Redwire Stock Triumphed on Tuesday
Space exploration equipment supplier Redwire's (NYSE: RDW) stock defied gravity in the best possible sense on Tuesday. Its shares seemed to be strapped to a rocket, as they closed the day nearly 21% higher on news of the company's latest delivery. With that gain, they were practically in a different orbit than the S&P 500 index, which bumped higher by 2% on the day.That morning, Redwire divulged it had delivered, to a business partner based in Italy, an onboard computer for one of the most important clients in the space exploration field. This is the European Space Agency (ESA), whose Comet Interceptor craft will use the device to assist it in its comet-analyzing endeavors. Image source: Getty Images.Continue reading
Space exploration equipment supplier Redwire's (NYSE: RDW) stock defied gravity in the best possible sense on Tuesday. Its shares seemed to be strapped to a rocket, as they closed the day nearly 21% higher on news of the company's latest delivery. With that gain, they were practically in a different orbit than the S&P 500 index, which bumped higher by 2% on the day.
That morning, Redwire divulged it had delivered, to a business partner based in Italy, an onboard computer for one of the most important clients in the space exploration field. This is the European Space Agency (ESA), whose Comet Interceptor craft will use the device to assist it in its comet-analyzing endeavors.
Image source: Getty Images.
