Why Redwire Stock Soared After Earnings
Redwire is making progress, but remains a speculative investment.
Overview
Space stock-turned-drones stock Redwire Corporation (NYSE: RDW) closed up 11% on Thursday after beating analyst targets in its Q2 report last night.
Heading into the report, Wall Street expected Redwire to lose $0.16 per share on sales of $107.9 million, and while the company did lose money, it lost less than expected -- only $0.09 per share. Sales solidly beat expectations at $117 million.
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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.