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Firefly Stock Drops After Alpha Rocket Test Ends in Mishap

Firefly Aerospace signage during the company's initial public offering at the Nasdaq MarketSite in New York on Aug. 7. — Firefly Aerospace signage during the company's initial public offering at the Nasdaq MarketSite in New York on Aug. 7.
Photographer: Michael Nagle/Bloomberg

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By Bruce Einhorn and Sana Pashankar

September 29, 2025 at 10:15 PM UTC

Updated on

September 30, 2025 at 3:12 PM UTC

Shares of Firefly Aerospace Inc. plunged as much as 25% after a core segment of one of the company’s rockets exploded on a test stand.

During the test at its facility in Briggs, Texas, “the first stage of Firefly’s Alpha Flight 7 rocket experienced an event that resulted in a loss of the stage,” the company said Monday in a statement on X.