Firefly Aerospace Inc (NASDAQ: FLY) shares are trading lower in Monday’s after-hours session after the company announced a testing mishap with its Alpha rocket.
What Happened: Firefly announced on Monday that its Alpha Flight 7 rocket experienced an event that resulted in a loss of the stage during testing at the company’s Texas facility.
Firefly said it’s currently assessing damages. The company noted that all personnel are safe and no other facilities were impacted.
“Regular testing is part of Firefly's philosophy — we test each critical component, engine and vehicle stage to ensure it operates within our flight requirements before we ship to the launch pad. We learn from each test to improve our designs and build a more reliable system. We will share more information on the path forward at a later date,” the company said.
Firefly Aerospace went public in August, raising $933.1 million in net proceeds from its IPO. The company expects to generate approximately $133 million to $145 million in total revenue this year.
How To Buy FLY Stock
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Firefly Aerospace's case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
FLY Price Action: Firefly Aerospace shares were down 8,37% in after-hours, trading at $33.87 at the time of publication on Monday, according to Benzinga Pro.
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Image: courtesy of Firefly Aerospace.
