Firefly Aerospace Plunges 8.9% on $1B AST Offering and ULA Booster Issue
Firefly Aerospace shares fell 8.9% on Thursday after sector-wide selloff triggered by AST SpaceMobile’s $1 billion convertible note offering and hardware concerns from ULA’s Vulcan booster issue; FLY stock has declined nearly 40% over the past month.
1. Thursday Selloff
Firefly Aerospace shares tumbled 8.9% in heavy trading as the entire space sector retrenched on Thursday.
2. AST SpaceMobile Convertible Offering
AST SpaceMobile’s pricing of a $1 billion convertible note offering added downward pressure across pure-play space stocks, including Firefly.
3. ULA Vulcan Booster Concerns
United Launch Alliance reported a solid rocket booster issue on its Vulcan rocket, heightening hardware reliability fears in the industry.
4. Recent Stock Performance
FLY stock has slid nearly 40% over the past month after a strong start to the year, reflecting profit-taking amid mounting sector headwinds.