Firefly Aerospace Stock Tumbles After IPO Surge
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BTCCSquare news:
Firefly Aerospace (FLY -15.98%), the Nasdaq's newest space stock, debuted at $45 on Thursday and surged 34.1% to close at $60.35. By Friday, the stock had relinquished most of those gains, closing down 16.9% at $50.17. The pullback mirrored broader weakness in space-related equities following disappointing earnings from sector peers.
Investors now face a conundrum. While the dip offers a second chance to buy NEAR the IPO price, valuation concerns persist. At 27 times sales, Firefly's stock appeared richly valued even before its first-day pop. The company's ability to justify this premium through execution remains untested.
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