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華爾街日報Starfighters Space Hits Public Markets At Full Throttle
Starfighters Space, Inc. (AMEX:FJET) debuted on the NYSE American last Thursday with its initial public offering (IPO) priced at a modest $3.59 per share.
- FJET stock is moving. See the chart and price action here.
The stock has since lived up to its supersonic namesake, surging 370% on Monday to close at $31.50. Investors are now scrambling to get exposure to the blossoming space economy.
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However, shares pulled back by 50% on Tuesday morning. The volatility is a direct reflection of the company's unique value proposition in the hot sector of commercial space technology, along with the market struggling with price discovery following the stock's recent IPO.
Headquartered at NASA's Kennedy Space Center, Starfighters Space operates the world's only commercial fleet of Lockheed F-104 Starfighters. The Mach 2 jets serve as a flying first stage for the company's Starlaunch platform.
By launching satellites from 45,000 feet, Starfighters can avoid the weather delays and infrastructure costs associated with traditional vertical launchpads—a massive advantage in the booming small-satellite market.
Starfighters is also a critical R&D partner for the giants of aviation. Its current customer roster includes GE Aerospace (NYSE:GE) and Lockheed Martin Corp. (NYSE:LMT), who utilize the F-104s for high-speed captive carry testing and hypersonic research.
As the U.S. military and private sector race to develop next-generation propulsion systems, Starfighters' ability to provide sustained supersonic flight could be a lucrative asset.
Proceeds from the company's $40 million IPO last week are earmarked for operational scaling. A planned expansion into Midland, Texas, and the acquisition of F-4 Phantoms to increase payload capacity are underway.
While the stock remains highly volatile, the massive Monday rally suggests that Wall Street might be betting on the company's ability to turn vintage supersonic speed into future orbital dominance.
FJET Price Action: Starfighters Space shares were down 50.79% at $15.50 at the time of publication Tuesday, according to data from Benzinga Pro.
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