Why These Defense Stocks Are Declining This Week

4. Redwire Corporation (NYSE:RDW)

Weekly Decline: -12.11%

Redwire Corporation (NYSE:RDW) is a global space company that provides critical space infrastructure for government and commercial users. The stock has been under pressure this year due to ongoing investigations around the fairness of the Edge Autonomy acquisition to shareholders.

The stock has slumped by more than 12% over the past week, with a major dip after Redwire Corporation (NYSE:RDW) announced financial results for the fourth quarter of fiscal 2024 on March 10. While Q4 revenue increased 9.6% year-over-year, the net loss for the quarter was $59 million higher than the prior year’s period.

Redwire Corporation (NYSE:RDW)’s free cash flow for the quarter stood at $3 million, down from $12.6 million in Q4 2023. The company’s annual loss was recorded at $114.3 million, worsening substantially from a loss of $27.3 million in fiscal 2023. It is among the defense stocks that are declining this week.