Starfighters Space, Inc. (NYSE American: FJET) has recently emerged as a significant player in the market, particularly noted for its dramatic price fluctuations surrounding the Christmas week. The stock closed at $31.50 on December 22, 2025, marking an astonishing 370.85% increase within the session. However, this surge was quickly countered by a sharp decrease in early pre-market trading on December 23, with the price reported around $23.90 to $24.10, a drop of approximately 23% to 24%.
The early trading session on December 23 indicated a significant reaction to the previous day’s extreme volatility. As the stock corrected, the market sentiment appeared to be testing the sustainability of demand following the initial momentum-driven surge. This price fluctuation is not atypical for newly listed stocks that captivate retail investors, especially when the public float is constrained, and the company promotes compelling narratives—like its focus on supersonic jets and space launch capabilities.
Several factors contributed to the initial surge of FJET stock:
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IPO Launch and Listing Structure: Starfighters Space executed its IPO through a Regulation A pathway before transitioning to trade on NYSE American. The company raised $40 million by selling over 11 million shares at $3.59 each, framing this capital raise as a vehicle for research and development aimed at scaling its STARLAUNCH program.
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Retail Investor Interest: As reported by Benzinga, the stock experienced extraordinary trading volume, opening at $7.73 and accumulating over 36 million shares traded by the close of the day. This attention was fueled by a broader momentum surrounding space-related equities, which often stirs risk-on behavior among retail investors.
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Limited Share Supply: The company revealed a Pooling Agreement that restricts the resale of pooled securities for a period of 180 days following the listing. Such constraints on available shares can exacerbate volatility, as the demand encounters a limited supply.
Starfighters Space’s business model distinguishes it from traditional aerospace companies, as it focuses on air-launched space access via a fleet of Lockheed F-104 supersonic jets. The company’s STARLAUNCH program is designed to facilitate sub-orbital launches of small satellites and payloads.
Recent filings have fueled investor interest, offering insights into the company’s capital structure and dilution metrics. An 8-K filed on December 22 disclosed the completion of its Regulation A offering, detailing significant share transactions and additional securities issued. This kind of information is vital, especially considering the volatility experienced by FJET, as it highlights potential future dilution or supply changes.
As of the latest filings, there are approximately 27.9 million common shares issued and outstanding, with CEO Rick Svetkoff representing a substantial portion of insider ownership. This dynamic, combined with the early-stage restrictions and a newly public ticker, typically contributes to the kind of price behavior witnessed by FJET.
Moving forward, the market will be closely observing key milestones related to regulatory approvals and operational developments for STARLAUNCH. Additionally, the lifting of share restrictions and conversions of warrants could radically impact liquidity and subsequent trading dynamics.
Market analysts at this stage remain cautious, as formal coverage of FJET appears limited, with no current analyst price targets available. Technical indicators suggest the stock is currently overbought, a typical feature of momentum-driven events, signaling that while bullish sentiment prevails, the potential for a swift reversal remains a reality.
Overall, FJET’s performance exemplifies the volatility inherent in newly-listed stocks, particularly those resonating strongly with retail investors. The future trajectory will likely hinge on tangible progress in company operations and regulatory developments rather than merely price momentum.
