Shan Ahmed Khan

Redwire Corporation shares surged nearly 28% to $14.01 in Tuesday afternoon trading, after the Jacksonville, Florida-based space and defense supplier announced it secured a spot on the Missile Defense Agency’s SHIELD contract vehicle, which carries a $151 billion ceiling. The stock hit an intraday high of $14.54 on volume nearing 80 million shares. Redwire said the IDIQ award is multi-vendor and doesn’t guarantee revenue. CEO Peter Cannito highlighted that “Redwire’s proven space and defense technologies … position us to deliver resilient, multi-domain solutions for national security missions.”