Firefly Aerospace Inc. is trading at $38.00 (5% up) in pre-market action, rebounding from a steep decline triggered by its recent follow-on stock offering.
- The stock fell more than 20% last week after pricing a large 12 million-share equity offering, which caused significant dilution concerns.
- Today's upward move appears to be a bargain-hunting bounce as investor sentiment stabilizes following the sharp sell-off.
- Shares are attempting to recover ground after the valuation reset tied to the company's capital raise.