Firefly Aerospace (FLY) remains in focus on Monday morning after its blockbuster initial public offering (IPO) that raised about $868 million last week.
Firefly priced its IPO at an upwardly revised $45 a share, but the stock opened at $70 in its Nasdaq debut on Thursday, fetching the space technology company a valuation of nearly $8.5 billion.
FLY’s debut marks one of the most successful public offerings in the aerospace industry this year, fueled by investor enthusiasm for next-gen space infrastructure and defense capabilities.
FLY shares may be worth buying following the standout IPO as investor appetite for tech offerings has returned in 2025, with names like CoreWeave (CRWV) retaining strength even months after their market debut.
After its initial surge, Firefly stock has pulled back a little in recent sessions, creating a compelling entry point for those interested in owning it for the longer term.
What’s also worth mentioning is that FLY sits right at the heart of a high-demand niche – dedicated small-payload launches for national security, commercial clients, and hypersonic testing.
With space exploration and defense spending on the rise, and IPOs regaining momentum, it’s likely that Firefly stock’s recent dip will prove a temporary breather before its next leg up.
Firefly shares are attractive to own at current levels also because the space technology company is growing at a fast clip.
According to its IPO filing, the company based out of Cedar Park, Texas saw its top line grow over sixfold to nearly $56 million in its latest reported quarter.
Moreover, FLY currently has a $1.1 billion backlog after signing a $177 million NASA contract and receiving $50 million investment from Northrop Grumman (NOC), which validate its technology and reinforce its credibility in lunar missions.
Firefly Aerospace has already proven operational success with its Alpha rocket and Blue Ghost lander, and partnerships with defense giants like Lockheed Martin (LMT) and L3Harris (LHX) further add strategic depth.
