Why Is Redwire Stock Surging Today?

Redwire Corporation (NYSE: RDW) shares surged 16.52% to $12.77 in premarket trading following the announcement of its selection for the Missile Defense Agency's $151 billion SHIELD IDIQ contract. This multi-award contract aims to enhance rapid delivery of innovative capabilities for national security, although Redwire noted there is no guaranteed revenue from this award. The company has also recently restructured its operations under a unified brand to improve operational execution.