US Stock Market Move | Starfighters Space (FJET.US) rebounds more than 10% in pre-market trading after plunging nearly 60% yesterday.

On Wednesday, the newly listed space concept stock Starfighters Space (FJET.US) rebounded by over 10% in pre-market trading, reaching $14.37 per share. The stock has been experiencing significant volatility in recent days, surging 371% on Monday and then plummeting by nearly 60% on Tuesday. Market analysis suggests that the low float and speculative business prospects are the main reasons behind the extreme fluctuations in the stock price. Despite raising $40 million through an IPO, the company has not generated any revenue in the past three years according to financial data. The company's core business is the development of a project called "StarLaunch," which plans to deploy satellites and small payloads into space using jet aircraft capable of flying at twice the speed of sound (Mach 2). Additionally, the company provides services such as pilot and astronaut training and in-flight testing for both defense and private sectors. Its current clients include Lockheed Martin, GE Aerospace, Innoveering, Space Florida, and the United States Air Force Research Laboratory.