On Friday, the stock gave up $10 of yesterday's gains, and closed closer to $50. Firefly stock remains a very expensive space IPO. Firefly Aerospace (NASDAQ: FLY), the Nasdaq exchange's newest space stock, went public at $45 on Thursday and quickly surged to close its first abridged day of trading up 34.1% at $60.35.

Firefly Aerospace stock surged at IPO but dropped 11% amid volatility; strong backlog and NASA contracts support growth.

The space tech firm, which debuted on the Nasdaq today, boasts the only commercial vehicle to have successfully landed on the moon. Update Thursday, 3:14 p.m.: