Should You Buy Redwire While It's Below $13?

Redwire (NYSE: RDW) shares surged earlier this year, reaching as high as $26. The pick-and-shovel space and defense company rode the wave of enthusiasm around space stocks amid the initial public offering of Space Exploration Technologies, aka SpaceX, in June.

Since then, the stock has plunged nearly 58% and is priced below $13 per share. Is now a good time for investors to scoop up shares of Redwire?

Redwire provides space components and subsystems that enable space exploration and research. With modern warfare expanding into orbit, Redwire is also leaning into defense. Modern deterrence and missile tracking rely on satellites and space imaging, and Redwire manufactures the critical hardware that lets them function.

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