Firefly’s stock sags due to poor revenue numbers in 1st quarter report
Apparently Wall Street has lost faith in the rocket startup Firefly since that company went public last month. The stock zoomed initially, but has now sagged due to a poor 1st quarter report that showed revenues far below expectations.
The stock’s initial price had been predicted to range from $35 to $39, but quickly rose to $70.
Since then the price has steadily dropped, so that today it sits about about $41.
The news reports seem to think this indicates bad things for the company. I see this as simply a long term correction from the initial over-enthusiasm by buyers. The company had first offered a stock price close to this number. The price is now exactly where Firefly predicted.
If I was interested in buying stock, this might actually be a good time to buy. As a rocket startup, Firefly appears quite solid, being the only startup to successfully soft land on the Moon. Its Alpha rocket has also been cleared for further launches, and though it has had a mixed launch record, with several launches failing due to upper stage issues, it has likely solved these problems.
Apparently Wall Street has lost faith in the rocket startup Firefly since that company went public last month. The stock zoomed initially, but has now sagged due to a poor 1st quarter report that showed revenues far below expectations.
The stock’s initial price had been predicted to range from $35 to $39, but quickly rose to $70.
Since then the price has steadily dropped, so that today it sits about about $41.
The news reports seem to think this indicates bad things for the company. I see this as simply a long term correction from the initial over-enthusiasm by buyers. The company had first offered a stock price close to this number. The price is now exactly where Firefly predicted.
If I was interested in buying stock, this might actually be a good time to buy. As a rocket startup, Firefly appears quite solid, being the only startup to successfully soft land on the Moon. Its Alpha rocket has also been cleared for further launches, and though it has had a mixed launch record, with several launches failing due to upper stage issues, it has likely solved these problems.