"Aerospace company Starfighters Space, which operates the world's only commercial supersonic aircraft fleet out of NASA's Kennedy Space Center, is down double digits after major gains following completion of its initial public offering (IPO) last week. Starfighters Space's stock price has had a volatile ride in the days since, and Tuesday was no exception. On Tuesday, shares of the stock, which are trading under the ticker symbol FJET, were down 55%, just one day after Monday's record gains, when it soared a whopping 371%."
"The company owns and operates the largest commercial fleet of supersonic aircraft, which consists of seven Lockheed F-104 Starfighters adapted for space missions, and is based out of NASA's Kennedy Space Center in Cape Canaveral, Florida. Starfighters is developing a StarLaunch program, which uses the jets to deploy satellites and small payloads into space, with the capability to fly at MACH 2."
Starfighters Space completed a Regulation A offering, raised $40 million, and began trading on the NYSE American under ticker FJET. The stock opened at $10, peaked at $17.72, slid to $6.69, then experienced extreme intraday swings including a 371% surge and a 55% drop. The company operates seven Lockheed F-104 Starfighters from NASA's Kennedy Space Center and is developing the StarLaunch program to deploy satellites and small payloads at MACH 2. Founded in 2022, the company offers pilot and astronaut training, in-flight testing, and defense and commercial solutions, with clients including Lockheed Martin and the U.S. Air Force Research Laboratory. Market capitalization stood near $395 million.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]