Firefly Aerospace (NASDAQ:FLY), the first space stock to land a spacecraft on the moon with 100% success, tumbled 11.1% through 2:40 p.m. Friday.
That's the bad news. The good news is that there doesn't seem to be any particular reason for Firefly to be going down.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Image source: Firefly Aerospace.
What's wrong with Firefly stock today?
We're right in the middle of earnings season for aerospace stocks, with Lockheed Martin beating earnings last week and Boeing an earnings miss just earlier this week. Firefly, on the other hand, hasn't reported any earnings at all and isn't scheduled to do so until Nov. 10. There hasn't been any recent news of analyst downgrades or changes to the stock's price target either.
In the absence of any such catalyst, there's really no reason for Firefly stock to be crashing.
On the contrary, what news there is on Firefly is of the "good news" variety. Last week, Firefly passed preliminary...