Firefly Aerospace Landed on the Moon, Won a Pentagon Contract, and Partnered With Lockheed Martin. So Why Is the Stock D

Firefly Aerospace (NASDAQ: FLY) stock has taken investors on a wild ride this year. The company's share price rocketed to its 52-week high in May, but it's seen dramatic valuation drawdowns in subsequent trading. The company's share price is now down roughly 26% across 2026's trading and 70% from its one-year high. The big sell-offs have occurred despite some big wins for the business, including a successful Moon landing, winning a Pentagon contract, and securing a partnership with defense and aerospace giant Lockheed Martin. So why has the stock been getting crushed? Image source: Getty Images.

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