RDW -18% today...
Honestly, after that insane 15% run yesterday, today’s 18% drop for Redwire isn't a huge shocker, though it definitely stings if you bought the top. It looks like a textbook "sell the news" event.
We had the hype from the $20M Marine Corps drone contract and that random Washington Commanders partnership, but once the stock hit $12, the profit-taking started in earnest. To make things worse, a Form 144 hit showing AE Red Holdings dumped almost a million shares right at the peak, which is never a great look for sentiment.
With short interest still sitting around 25%, this thing is a total rollercoaster. We’re basically back to testing the $9.50-$10 support level. If you’re long, the fundamentals with the Space Force budget still look solid, but today is just a brutal reminder of how volatile this ticker is.
Anyone else buying this dip or waiting for it to settle?