Why Redwire Stock Crashed Today
So I guess I was both right and right about the SpaceX (NASDAQ: SPCX) IPO.
Right first, because I predicted SpaceX IPO fever could drive space stocks higher. Indeed, shares of space infrastructure company Redwire (NYSE: RDW) have roughly doubled over the past four months.
That's the good news. I was also right, unfortunately, about what would happen on the IPO date. And this, in a nutshell, is why Redwire stock fell 7% through 11:15 a.m. ET today.
Source Fool.com
