Shares of Redwire (NYSE:RDW) dropped 1.3% after Cantor Fitzgerald slashed its price target by 55% to $9.00 from $20.00, citing cautious outlook on future performance. Despite the cut, the firm maintained an “Overweight” rating on the stock. Redwire’s shares have been volatile with 98 moves greater than 5% over the last year, indicating the market views the news as significant but not changing its perception of the business fundamentally. The broader market experienced a sharp reversal due to a stronger-than-expected jobs report, overshadowing positive corporate earnings like Nvidia’s. Redwire is down 56.7% YTD and trading 71.3% below its 52-week high.

Read more at Barchart: Why Redwire (RDW) Stock Is Trading Lower Today