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FireFly Aerospace Stock Surges on Defense Acquisition News
FireFly Aerospace Stock Surges on Defense Acquisition News
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BTCCSquare news:
FireFly Aerospace shares soared 11.2% to $9.56 Wednesday afternoon following its $855 million acquisition of defense tech firm SciTec. The deal aims to bolster the company's national security capabilities, particularly for missile defense systems like the "Golden Dome" project.
The space launch provider's rally defies recent setbacks, including a rocket explosion at its test facility. CEO Jason Kim framed the acquisition as critical for delivering "software-defined solutions" to government clients, though FireFly's $270 million net loss last year raises questions about its capital-intensive growth strategy.
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