Why Firefly Aerospace Stock Sank 27% Last Month
Shares of Firefly Aerospace (NASDAQ: FLY) fell 27% in November, according to data from S&P Global Market Intelligence. A spaceflight disruptor that went public back in August, Firefly is growing quickly but getting pulled down by general post-IPO (initial public offering) selling dynamics as well as the market falling out of favor with fast-growing unprofitable companies.
Here's why Firefly Aerospace stock fell 27% last month, and is now down 66.5% from all-time highs.
Firefly Aerospace is an exciting company, breaking the mold of the stodgy space industry in the United States with its flight and lunar landing technology. Along with the likes of SpaceX and Rocket Lab, Firefly is one of the only spaceflight companies to successfully perform rocket launch missions for commercial customers. It is also the first company to deliver a landing module to the moon with its Blue Ghost missions.
Source Fool.com
