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Firefly Aerospace Stock Tumbles Below IPO Price After Earnings Disappointment
Firefly Aerospace Stock Tumbles Below IPO Price After Earnings Disappointment
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BTCCSquare news:
Firefly Aerospace shares plunged nearly 12% to $43, falling below their $45 IPO price after reporting wider quarterly losses. The aerospace company's second-quarter loss expanded to $80.3 million from $58.7 million a year earlier, weighed down by operational setbacks including a rocket mishap that grounded its Alpha vehicle.
The decline marks a sharp reversal from Firefly's market debut last month, when it joined a wave of $100 million-plus IPOs that initially rallied. The stock's rapid descent underscores how quickly investor enthusiasm can fade for newly public companies as financial realities emerge. Early-stage volatility remains a critical consideration for portfolios adding recent listings.
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