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Is Firefly Aerospace a Broken IPO?

TheMotleyFool

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Is Firefly Aerospace a Broken IPO?: https://g.foolcdn.com/editorial/images/834892/boy-in-a-lab-coat-is-crying-next-to-a-crashed-rocket.jpg

Since joining the public markets in August, Firefly Aerospace (NASDAQ: FLY) has taken its investors on a very wild ride. IPO'ing at a $45 offer price, Firefly actually began trading 55% above that price, at $70 a share, and closed its first day of trading still up 33%, at $60.35.

Unfortunately for space investors, it's been mostly downhill since. For most of the month of August, Firefly stock has actually traded below its $45 offer price -- the very definition of a broken IPO.

You cannot say I did not warn you.

Source Fool.com

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