Why Redwire Stock Blasted Higher in January
In January, Space infrastructure specialist Redwire (NYSE: RDW) announced a transformational deal and inked a high-profile partnership. Investors were excited, sending Redwire shares up 45.3% for the month, according to data provided by S&P Global Market Intelligence.
Redwire is a private equity-formed company focused on building rocket components, payloads, and other space infrastructure. In January, Redwire announced a $925 million acquisition of privately held Edge Autonomy.
Company officials said the deal would "transform Redwire into a global leader in multi-domain autonomous technology," helping to broaden its exposure to the defense industry. Although Redwire is primarily focused on building infrastructure for space, the addition of Edge could help the company get involved in future competitions for military drones.
Source Fool.com
