Why Firefly Aerospace Stock Skyrocketed on Monday
It didn't take very long for space exploration company Firefly Aerospace (NASDAQ: FLY) to become a part of two high-profile stock benchmarks. On Monday, the company graduated to the ranks of both the Russell 2000 and the Russell 3000 indexes. Investors greeted this visibility-improving development by pushing Firefly's stock up by 16% in that trading session.
Firefly, which became a publicly traded company in August, announced that morning it was one of 18 companies selected for the Russell 2000 index. Its ascension to that grouping triggered its inclusion in the Russell 3000 index.
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Source Fool.com
