Redwire Corp. (RDW) stock soared 5.01% in the pre-market session on Friday, following the announcement of a new partnership with Virgin Galactic Holdings (SPCE).
The partnership involves Redwire manufacturing research payload lockers for Virgin Galactic's new Delta-Class spaceships. These lockers will significantly enhance Virgin Galactic's microgravity research capabilities, leveraging Redwire's expertise in developing biotech and industrial-manufacturing technologies for space applications.
Redwire has a strong track record in this field, having developed 20 research facilities for crewed spacecraft, with 10 currently operational on the International Space Station. The company's involvement in Virgin Galactic's new spacecraft is expected to contribute to its future growth and revenue streams, potentially driving the stock's upward movement.
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