A Firefly Aerospace Blue Ghost Lander model during the company's initial public offer in the Nasdaq market in New York, on August 7, 2025.
Michael Nagle | Bloomberg | Getty images
Aerospace Firefly The actions sank almost 21% after their rocket exploded during a test flight on Monday.
The explosion occurred during a trial flight in the first stage of the Alpha Flight 7 Alpha Flight 7 rocket in its facilities in Briggs, Texas, Firefly wrote in an update.
“The appropriate security protocols were followed, and all the staff is sure,” Firefly wrote. “The company is evaluating the impact on its testing position in the stage, and no other installation was affected.”
The eight -year -old space technology company competes in an increasingly crowded space dominated by companies backed by multimillionaire such as Elon Musk Spacex for agreements with NASA and prominent government contractors.
The appetite is strong. Over the years, Firefly has associated with NASA, Lockheed Martin and L3harris Technologies. Recently it earned a $ 177 million contract with NASA and an investment of $ 50 million Northrop Grumman.
At the time of its initial public offer last month, Firefly was the third significant space technology in debuting in 2025 after Voyager Technologies and Karman Holdings.
The high interest of investors led to an updated offer, with a sale of initial shares raising $ 868 million at an assessment of $ 6.3 billion. The shares increased 34% on the opening day to close by more than $ 60. Since then, the action has withdrawn 50%.
“This is execution,” said CEO Jason Kim “Squawk Box” of CNBC on Opi's day.
He said the company is focused on the laser in its Alpha rockets to meet the largest commercial and commercial security demands.
Firefly manufactures rockets, space beams and terrifying luns. Earlier this year, his blue ghost lunar terrain landed successfully on the moon.
Rocket tests in the sector, historically, have not always been a soft trip. Firefly's sixth alpha rocket failed in April. Last month, the Federal Aviation Administration cleared Firefly to continue testing its alpha rockets. Spacex has also suffered mishaps, including an explosion of launch platform this summer.
“We learn from each test to improve our designs and build a more reliable system,” Firefly wrote in its mission update.
Firefly 1 month stock graphic.
