Although Redwire (NYSE: RDW) often gets most noticed as a space company these days, it’s also active in the defense industry. It was this side of the company that made the headlines on Tuesday, in a development that ultimately pushed its share price almost 14% higher that trading session. This looked quite good when compared to the S&P 500 index’s 0.6% slide.
That morning, Redwire announced that its Edge Autonomy subsidiary had completed a fresh delivery of drones to Ukraine, for use in that country’s war against Russia. The Ukraine Armed Forces received a set of Penguin uncrewed aerial systems (UASes).
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