Firefly Aerospace shares fell 9% in premarket trading on Friday, in what was perceived as a normal market swing, but the space tech firm's robust debut highlighted renewed investor appetite for high-growth listings.

Firefly Aerospace stock experienced a 2.56% drop during after-hours trading on Thursday, following its recent IPO. However, the company’s stock value remains robust, buoyed by its historic moon landing earlier this year.

Firefly Aerospace made a powerful entrance to the public markets on Thursday, surging more than 50% in its Nasdaq debut. Trading under the ticker symbol FLY, the stock opened at $70 per share, significantly above its IPO price of $45.