On May 29, Firefly Aerospace rose 5.27% overnight, trading at $51.97 per share, with trading volume of approximately $184,200.

On the news front, the company recently won a $75 million subcontract from NASA for a lunar mission, with the core objective of utilizing its Elytra spacecraft to deliver drone equipment to the lunar south pole. The contract is part of NASA's broader Artemis program aimed at expanding humanity's footprint in space. Additionally, SpaceX's recent IPO filing has continued to bolster sentiment across the commercial space sector, with peers such as Redwire Corp. and Intuitive Machines previously surging over 20% and 18% respectively on sector momentum.

The company had previously disclosed plans to issue 4 million new shares while existing shareholders would sell 8 million shares, totaling 12 million shares with an additional 1.8 million share greenshoe option. Against total outstanding shares of approximately 160 million, dilution concerns drove the stock down for two consecutive sessions. The current rebound suggests selling pressure is gradually being absorbed as the positive NASA contract fundamentals reassert dominance over market sentiment.

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