What's Going On With Firefly Aerospace Stock Monday?

Firefly Aerospace Inc. (NASDAQ:FLY) shares are trading higher Monday amid broader strength in space-related stocks. The company also announced it will join the Russell 2000 and Russell 3000 indexes.

• Firefly Aerospace shares are climbing with conviction. What’s behind FLY gains?

What To Know: Firefly Aerospace announced it joined the Russell 2000 Index, with the inclusion also triggering its addition to the broader Russell 3000 Index. The company was one of 18 firms selected for addition to the Russell 2000 in December, according to FTSE Russell.

The Russell indexes are market capitalization-weighted benchmarks widely used by institutional investors and investment managers. FTSE Russell publishes the indexes to measure the performance of different segments of the global equity markets.

Firefly shares may also be getting a boost from broader strength in the space sector. Shares of space-related companies are trading higher amid overall sector optimism following news of a planned SpaceX IPO next year, as well as President Donald Trump’s recent executive order titled “Ensuring American Space Superiority,” outlining U.S. Lunar and Mars ambitions.

How To Buy Firefly Shares

By now you're likely curious about how to participate in the market for Firefly – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

See Also: AMC Entertainment Stock Hits A New All-Time Low: What’s Going On?

FLY Price Action: At the time of writing, Firefly stares are trading 14.32% higher at $28.19, according to data from Benzinga Pro.

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