Redwire Stock Plunges 7.5% on CFO Exit and Major Shareholder Sell-Off
Redwire Corporation's stock price has dropped by 7.5% following the announcement of its CFO's retirement and a significant shareholder's planned sell-off on the stock market today. The shareholder, BCC Redwire Aggregator, L.P., holds around 10% of Redwire's stock and is now looking to sell nearly 10 million shares on the stock market. The sale, which suggests a significant discount, could indicate a rush to exit Redwire stock on the stock market today. The current share price is near the reported sale price of approximately $10.15 per share on the stock market today. Redwire's CFO, Jonathan Baliff, will retire at the end of November, with Chris Edmunds, the current chief accounting officer, set to replace him. The company's market cap stands at $1 billion, with a current share price of $9.81 and a 52-week range of $6.61 to $26.66 on the stock market today. The planned sale by BCC Redwire Aggregator, L.P. is expected to impact Redwire's stock price on the stock market today in the coming days. Investors are advised to monitor the situation closely as the sale progresses on the stock market today.
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