RDW - Redwire blames earnings delay on accounting issue

Redwire (NYSE:RDW) shares rally after plummeting during trading hours after the company delayed earnings without providing a reason. "On Friday evening, November 5, 2021, Redwire management was notified by an employee of potential accounting issues with a business subunit," says the company in a newly issued press release. Redwire's independent Audit Committee of the Board of Directors has commenced an independent investigation into the matter. The company did not announce when it plans to deliver Q3 earnings. Shares are up 3.10% AH after dropping 16% during trading hours. Redwire has been one of the top performers in the space sector over the last month, only being outperformed by peer Astra Space.

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Redwire blames earnings delay on accounting issue