Voyager Technologies, Inc. (VOYG) saw its stock plummet 5.88% during the 24-hour period ending Thursday evening, marking a significant reversal from its impressive post-IPO performance. This decline comes just a day after the defense and space tech company made its trading debut with an extraordinary 82% surge.

The company's initial public offering (IPO) on Wednesday was met with overwhelming enthusiasm from investors. Voyager Technologies priced its IPO at $31 per share, but the stock opened at $69.95, a staggering 126% above its initial offering price. The first day of trading concluded with the stock up 82% at $56.48, securing a valuation of $3.8 billion for the Denver, Colorado-based firm.

However, the sharp decline on Thursday suggests a cooling of investor excitement and potential profit-taking following the initial surge. This volatility is not uncommon for newly listed companies, especially those in high-growth sectors like defense and space technology. Despite the drop, Voyager Technologies' stock price remains significantly above its IPO price, indicating continued investor interest in the company's long-term prospects in the defense and space sectors, which are expected to thrive under the current administration.