Key Takeaways Firefly's stock plunged Tuesday after the aerospace company's first earnings report since going public last month revealed widening losses. The stock had popped on its first day of trading, but enthusiasm has waned since, with recent losses dragging the shares below their IPO price. Firefly Aerospace (FLY) shares tumbled Tuesday, a day after the aerospace firm posted widening losses, as a mishap that grounded its Alpha rocket weighed on its results. The stock was down nearly 12% in recent trading around $43. The Federal Aviation Administration had halted launches of Firefly’s Alpha rocket following a rupture during a late April flight that led the Alpha Flight 6 to fail to reach orbit and fall into the ocean.