Redwire Lands Taiwan Coast Guard Drone Deal

Redwire Corp. (NYSE: RDW ) said Tuesday it won a contract from Taiwan Color Optics Inc. (TCO), a subsidiary of SemiLux International Ltd., to deliver its Penguin Mk2.5 VTOL Uncrewed Aerial System (UAS) to the Taiwan Coast Guard. Redwire shares climbed after the announcement as investors welcomed the defense contract. The award supports Taiwan’s maritime security and defense resilience plans. Redwire said the Penguin Mk2.5 was selected for its long-endurance performance, vertical takeoff and landing capability, and integrated EO/IR payloads for intelligence, surveillance and reconnaissance missions. The company said the platform can operate in harsh environments, perform day and night ISR missions, and track small moving targets. Technical Analysis From a longer-term trend view, RDW is still rebuilding after a weak 12-month stretch (down 26.32%), but it’s holding above its...