Redwire (RDW) shares inched higher in early trading on July 16 before paring back all intraday gains amid sector-wide profit-taking. The brief surge came after the space and defence company announced a $21.5 million follow-on contract to supply Advanced Stalker Block 30 drone systems to the U.S. Marine Corps.
Redwire stock has been in a sharp downtrend in recent weeks — currently down nearly 65% versus its high in late May.
