Could This Mid-Cap Space Stock Become the Next SpaceX?
Redwire lost its mojo after SpaceX went public.
Overview
When SpaceX (NASDAQ: SPCX) went public on June 12, it made history as the largest IPO ever and sucked the oxygen out of the space sector. Many smaller space stocks, which had rallied in the months ahead of SpaceX's IPO, quickly lost their luster.
One of those stocks was Redwire (NYSE: RDW), a producer of critical space mission components, which went public through a merger with a special purpose acquisition company (SPAC) on Sept. 3, 2021. Its stock opened at $11.07 per share, set a record high of $25.90 on May 28, 2026, but now trades at about $13. Let's see if this mid-cap stock is worth buying after its recent pullback -- and if it could potentially evolve into the next SpaceX.
Image source: Getty Images.
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Originally published at www.fool.com.