Firefly Aerospace Is Awarded New Orbital Contract From Department of Defense
The company has been tasked to complete a preliminary design review for a deorbit mission.
Overview
Firefly Aerospace (NASDAQ:FLY) just scored another in a lengthening series of U.S. federal government contracts. Just after market close on Thursday, the space company announced it had signed a pact with the Department of Defense (DoD; rebranded the Department of War by the Trump administration) for the first phase of a planned mission.
While it's typically good news whenever a company gets a contract, particularly from such a reliable and well-funded counterparty as the Feds, Firefly stock actually dipped slightly on Friday as investors digested this news. Let's explore the contract a bit and tease out why those market players weren't so excited about it.
Image source: Getty Images.
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Originally published at www.fool.com.