Why Redwire Stock Crushed the Market Today

Redwire (NYSE: RDW), a company that specializes in space exploration equipment, saw its stock soar toward the planets on Monday. That was on the back of an announcement that it would be forming a new corporate entity to take advantage of a promising business segment. Investors liked what they heard about the latest venture, and rewarded the stock by sending it almost 7% higher that day.That rate was well higher than the far more earthbound S&P 500 index, which ticked up by 1.4% as Redwire lifted off.In a press release, Redwire formally announced the creation of that entity, called SpaceMD. As the name implies, the unit will focus on opportunities for developing pharmaceutical products in space. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool