News on December 24th reported that newly listed space concept stocks$Starfighters Space (FJET.US)$rebounded over 10% in pre-market trading, reaching $14.26.
The stock has experienced significant volatility recently, surging 371% on Monday before plummeting nearly 60% on Tuesday. Market analysts believe that the low float and speculative business outlook are the main factors behind the extreme fluctuations in the stock price. The company operates the world's only commercial supersonic fleet and, despite raising $40 million through its IPO, financial data shows it has had no operating revenue in the past three years.
The company’s core business involves developing a project named 'StarLaunch,' which plans to utilize these jets capable of flying at twice the speed of sound (Mach 2) to deploy satellites and small payloads into space. Additionally, the company provides pilot and astronaut training, as well as in-flight testing services, for both defense and private sectors. Its current clients include Lockheed Martin, General Electric (GE), Innoveering, Space Florida, and the U.S. Air Force Research Laboratory.
Editor/melody