Shares of Redwire rose after the company secured a follow-on order from the U.S. Army to provide maintenance parts for its combat fleet.
Shares increased 7% to $8.70 on Wednesday. The stock is up 14% year to date.
The Army's aviation unit situated in Fort Huachuca, Arizona will receive Redwire maintenance parts, including its hybrid lift batteries, for its stalker uncrewed aircraft system.
The follow-on order will support the Army's individual training on the aircraft, helping soldiers train on a tested aircraft they can rely on for real-world operations, Redwire said.
At the request of the copyright holder, you need to log in to view this content
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