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Why new IPOs are crushing it out of the block [Yahoo! Finance Canada]
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The chart of the day What we're watching What we're reading Economic data releases and earnings "This company is not aspirational — it's operational." Firefly Aerospace ( FLY ) CEO Jason Kim said this to me on Yahoo Finance as his company was going through its rite of passage at the Nasdaq on Thursday. It felt so electric in the room, I asked Firefly's employees to clap us in at the top of the interview (video above). The stock opened at $70 a share and closed the session at $60.35 — up 34% from its IPO price of $45. The company's market cap at the end of its first trading day stood at $8.48 billion. Just last week, Firefly said it had planned to sell 16.2 million shares at a range of $35 to $39. A new regulatory filing on Monday came with a much higher range of $41 to $43. The company ended up raising $868 million from the IPO after selling 19.3 million shares at $45. Firefly Aerospace Inc. Common Stock (FLY) I think Kim's comment perfectly captures why recent IPOs
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