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Why Is FireFly Aerospace Stock Soaring Today?

TheMotleyFool

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Why Is FireFly Aerospace Stock Soaring Today?Photo, wide shot, wide-angle lens, Heavy machinery, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/c15253b0-7330-4605-a666-66954eaf6715.png

Shares of Firefly Aerospace (NASDAQ: FLY) are soaring on Wednesday, up 11.2% as of 1:31 p.m. ET. The jump comes as the S 500 and the Nasdaq Composite gained 0.5% and 0.9%, respectively.

The space launch company's stock is climbing once again after announcing on Sunday that it is acquiring the defense technology company SciTec for $855 million in a bid to boost its national security offerings.

Image source: Getty Images.

Source Fool.com

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