Intriguing IPOs: Firefly Aerospace (FLY)

Firefly wants to throw its hat in the ring as a preferred orbital launch contractor. The total number of hats in that ring is getting surprisingly big.

The Astronomer, Gerrit Dou, 1650-1655, oil on panel (Museum De Lakenhal)

Of all of SpaceX’s accomplishments over the past several years, one stands out to me as incredibly impactful.

It proved that investors will be willing to throw mountains of money at space companies.

I’m being glib, but SpaceX’s was proof-of-concept that someone other than United Launch Alliance (ULA) could launch a rocket into space (and get the U.S. government to pay for it).

Like many other highly successful first entrants into an industry, SpaceX has ushered in a new wave of space companies.

This past week, Firefly Aerospace (NASDAQ: FLY) went public after two rather spectacular feats: It was the first commercial space company to land on the moon successfully and achieved the fastest turnaround time (from customer notification to launch) of 24 hours. Those are some rather spectacular achievements, and I’m sure that it will quickly move Firefly up the U.S. Government’s list of space vendors.

Firefly certainly has established its bona fides in the space industry, and investors are already piling into the stock.

The Firefly IPO certainly raises a few questions that investors should consider, though.

Let’s dig in.