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Why Firefly Aviation's Stock Was Nose-Diving This Week

TheMotleyFool

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Why Firefly Aviation's Stock Was Nose-Diving This Week: https://g.foolcdn.com/editorial/images/835224/earth-as-seen-from-the-moon.jpg

Firefly Aviation (NASDAQ: FLY), a space stock that arrived recently to the market, was plummeting over the past few trading sessions. According to data compiled by S&P Global Market Intelligence its price was down by almost 17% week to date as of Friday before market open.

The finger of blame can be pointed directly at the company's latest set of quarterly results. These were dispiriting enough that even a subsequent bullish analyst note couldn't get Firefly buzzing again.

At least the second-quarter report Firefly published after market close on Monday was historic -- it was the company's first set of earnings since its initial public offering (IPO) early last month.

Source Fool.com

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