Why Redwire Stock Crashed Today
SpaceX is IPOing and Redwire stock is going down on no other news. Coincidence?
Overview
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.
Details
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
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.