Why Redwire Stock Just Went to the Moon
Shares of recent special-purpose acquisition company (SPAC) IPO and NewSpace company Redwire (NYSE: RDW) lifted off in afternoon trading Monday, rising as high as a 40% gain at one point. At 12:15 p.m. EDT, a virtually unknown company by the name of "Orbital Reef" tweeted that it plans to build "a commercial space station transforming human space travel and opening access to new markets" and that it has enlisted Boeing (NYSE: BA), Sierra Space (a subsidiary of Sierra Nevada Corporation), Jeff Bezos's Blue Origin space company, and Redwire, too, as its partners.
