U.S. Stock Movement | Redwire (RDW.US) Rises Nearly 10% in Pre-Market Trading as Musk Claims "Starship" Tech Will Slash Space Access Costs to 1% of Current Levels

Stock News01-23 22:31

On Friday, Redwire Corp. (RDW.US) saw its shares surge nearly 10% in pre-market trading, reaching $13.11. The movement follows comments from Elon Musk at the World Economic Forum in Davos, where he stated that SpaceX aims to achieve full rocket reusability this year through its "Starship" technology. He emphasized that this breakthrough would dramatically reduce the cost of accessing space to just 1% of current levels, potentially bringing it below $100 per pound. Furthermore, media reports citing sources indicate that the world's richest person, Elon Musk, is actively advancing plans for an Initial Public Offering (IPO) of his space exploration company, SpaceX, targeting a completion before July of this year.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment