Starfighters Space, Inc. (NYSE American: FJET) has turned into one of the market’s loudest “new ticker” stories heading into the Christmas-week lull—rocketing to a $31.50 close on Monday, Dec. 22, 2025, then giving back a chunk of the move in pre-market trading early Tuesday, Dec. 23. [1]
The headline numbers are hard to ignore:
- Dec. 22 close:$31.50, up +370.85% on the session (per Stock Analysis). [2]
- Dec. 23 pre-market (early): around $23.90–$24.10, down roughly 23%–24% from the prior close (Google Finance / Stock Analysis). [3]
- After-hours reference point: Investing.com showed $23.10 in after-hours with a decline of roughly -26.67% at the time of its snapshot. [4]
That kind of whiplash is not unusual for freshly listed, retail-buzzed stocks—especially when the public float is tight, fundamentals are still being digested, and the story has splashy keywords (supersonic jets + “space launch”) attached to it.
Below is a detailed, publication-ready breakdown of what’s driving Starfighters Space stock, what changed in the latest filings, what the market data is saying on Dec. 23, 2025, and what investors will be watching next.
What’s happening with FJET stock on Dec. 23, 2025
As of the early pre-market window on Tuesday, Dec. 23, FJET was indicated materially lower after Monday’s explosive run—roughly $23.90 in one widely viewed Google Finance snapshot, versus $31.50 at Monday’s close. [5]
StockAnalysis showed a similar picture: $31.50 at the prior close and roughly $24.10 pre-market, down about -23.49% at the time of that read. [6]
The key point for readers: Dec. 23’s early move is a reaction to an extreme, low-liquidity spike, not a slow re-pricing of an established large-cap name. In that context, a sharp pullback can be the market’s way of re-testing what demand looks like once the initial momentum wave cools.
Why Starfighters Space stock surged in the first place
Most of the day-to-day “why it moved” commentary has converged around three forces:
1) A brand-new NYSE American listing + an IPO structure that stands out
Starfighters Space completed its IPO through a Regulation A pathway and then transitioned to trading on NYSE American under FJET. The company said it raised $40 million through the sale of 11,142,061 shares at $3.59 per share. [7]
The company also publicly framed the raise as fuel for R&D and scaling—particularly around its STARLAUNCH development plans. [8]
2) Heavy retail attention and “space-sector” momentum narratives
Benzinga described “massive volatility” and extremely heavy trading volume during Monday’s surge, noting the stock opened at $7.73 and traded over 36 million shares by the time of its publication—far above its stated average volume. [9]
Benzinga also connected the move to broader strength and storytelling across space-related equities (and even IPO speculation narratives), which can amplify retail risk-on behavior in thematic names. [10]
Stocktwits’ markets coverage early on Dec. 23 explicitly listed Starfighters Space (FJET) among “noteworthy tickers trending” with retail traders that morning. [11]
3) A potentially constrained supply of tradeable shares
This is the under-discussed (but often decisive) ingredient in early-stage volatility: how many shares are actually available to trade freely.
In Starfighters Space’s prospectus documentation, the company disclosed a Pooling Agreement that imposes contractual resale restrictions on “pooled securities” for 180 days after the NYSE American listing date (Dec. 18, 2025), with certain price/volume-based conditions that may allow earlier partial releases. [12]
Whether or not a stock is “low float,” these kinds of constraints can intensify price moves because demand has fewer shares to hit on the open market.
What does Starfighters Space actually do?
Starfighters Space is not a conventional “rocket company.” It’s positioning itself around air-launched space access using a fleet of supersonic jets.
Reuters’ company profile describes Starfighters Space as operating a commercial fleet of Lockheed F-104 supersonic aircraft, with “air-launch rockets in development” through its STARLAUNCH program. [13]
The company’s own communications emphasize:
- Trading on NYSE American: FJET beginning Dec. 18, 2025, with trading scheduled to start at 10:30 a.m. ET that day. [14]
- A plan to use the $40 million raise to scale operations and accelerate STARLAUNCH I and STARLAUNCH II, which it says are expected to enable sub-orbital launches of small satellites and payloads using its flight-ready F-104 platform. [15]
In plain English: Starfighters is trying to be a reusable, aircraft-based first stage for certain launch profiles—while also generating revenue from adjacent services like training and airborne testing.
The latest SEC filing investors are reading right now
One reason FJET is getting extra attention is that it’s not just a chart story—there’s meaningful “newly public” paperwork hitting the tape.
An 8-K filed Dec. 22, 2025 (with an event date of Dec. 17, 2025) lays out several capital-structure details that matter for dilution math and float dynamics:
- The company completed the final closing of its Regulation A offering, selling 6,145,364 shares at $3.59, for gross proceeds of about $22.1 million (before commissions/fees). [16]
- It issued 61,402 agent’s warrants to Digital Offering, LLC (or designees), exercisable at $3.59 through Sept. 6, 2029. [17]
- Upon listing on NYSE American, it issued 3,834,857 common shares tied to the automatic conversion of outstanding 8% secured convertible debentures (the filing references conversion pricing). [18]
- It also issued 404,312 shares to Space Florida through a loan conversion associated with a subsidiary obligation upon the listing. [19]
For a stock that just experienced a multi-hundred-percent move in a single day, these details matter because they influence (a) future dilution and (b) how quickly liquidity can increase as instruments become exercisable or restrictions roll off.
Shares outstanding, insider ownership, and why the float question keeps coming up
From the prospectus materials filed with the SEC, Starfighters Space disclosed:
- 27,862,261 common shares issued and outstanding as of the prospectus date. [20]
- CEO Rick Svetkoff beneficially owned 14,170,000 shares (about 50.86%) in that table, and directors/executive officers as a group owned 52.76%. [21]
- The company also disclosed warrants outstanding (and other potentially dilutive securities), alongside the Pooling Agreement framework restricting resale for a period after listing. [22]
Combine high insider ownership + contractual resale restrictions + a newly listed ticker, and you often get the kind of price behavior FJET printed on Dec. 22–23.
FJET “forecast” check: what exists (and what doesn’t) on Dec. 23, 2025
Here’s the clean distinction many readers are looking for:
Company outlook statements
Starfighters has described the IPO proceeds as funding R&D and scaling for STARLAUNCH, and in its investor communications around the offering it referenced working toward revenue timing (including “meaningful revenue in 2026” language in its offering-related release materials). [23]
That’s a company-provided forward-looking posture, not a Wall Street forecast.
Analyst price targets and consensus forecasts
On major retail data dashboards, formal analyst coverage appears limited or absent at this stage. StockAnalysis, for example, displayed “Analysts: n/a” and “Price Target: n/a” for FJET at the time of capture. [24]
For investors used to seeing a neat grid of revenue estimates and price targets, that absence is itself information: the market is trading the narrative and liquidity dynamics more than a mature analyst model—at least right now.
Technical analysis on Dec. 23: the momentum is extreme
Technical indicators are not crystal balls, but they are decent thermometers for “how overheated is this move?”
Investing.com’s technical summary for FJET (timestamped on its page) showed a “Strong Buy” overall reading while also flagging the RSI at 81.592 (Overbought)—the classic signature of an extended momentum run. [25]
Separate commentary from Benzinga also framed the stock as hitting key psychological levels and discussed potential support/resistance areas that traders watch after a vertical move. [26]
The takeaway for Dec. 23: even bullish technical dashboards are effectively admitting the same thing—this is an outsized momentum event, and momentum events can reverse fast.
What to watch next in Starfighters Space (FJET) stock
With the stock swinging wildly and attention elevated, the next phase usually depends on whether new information replaces pure momentum. Here are the practical milestones market participants are tracking:
- Regulatory and operational progress on STARLAUNCH
Company filings explicitly cite dependencies like permits/approvals and launch-license timing as risk factors tied to forward-looking statements. [27] - Liquidity events: restrictions lifting, conversions, and warrants
The Pooling Agreement and the existence of warrants/convertible instruments mean supply can change over time—sometimes suddenly if conditions are met. [28] - Further SEC filings and ownership disclosures
Starfighters’ investor relations site lists recent filings (including Form 3 ownership statements and the 8-K). Newly public companies often have a burst of early filings that help the market refine its picture of the equity story. [29] - Whether retail “trend status” persists after the holiday-thinned tape
Stocktwits noted holiday-thinned trading conditions in its Dec. 23 morning markets piece and still flagged FJET as trending. Whether that attention persists can meaningfully affect liquidity and volatility. [30]
Bottom line
As of Dec. 23, 2025, Starfighters Space (FJET) is trading like a classic new-listing momentum name: a dramatic surge (Dec. 22), followed by an early pullback (Dec. 23 pre-market), with heavy retail attention and a narrative that blends aerospace hardware, “space access,” and scarcity dynamics in the tradable float. [31]
The company’s own disclosures confirm the IPO structure, proceeds, and several capital-structure moving parts (conversions and warrants), while prospectus materials highlight insider ownership and resale restrictions that can influence liquidity. [32]
For readers trying to separate signal from noise: the next durable move in FJET is more likely to come from filings and execution milestones than from another purely vertical chart day—but in the near term, the chart is still driving the conversation.
References
1. stockanalysis.com, 2. stockanalysis.com, 3. www.google.com, 4. ca.investing.com, 5. www.google.com, 6. stockanalysis.com, 7. starfightersspace.com, 8. starfightersspace.com, 9. www.benzinga.com, 10. www.benzinga.com, 11. stocktwits.com, 12. www.sec.gov, 13. www.reuters.com, 14. starfightersspace.com, 15. starfightersspace.com, 16. www.sec.gov, 17. www.sec.gov, 18. www.sec.gov, 19. www.sec.gov, 20. www.sec.gov, 21. www.sec.gov, 22. www.sec.gov, 23. ir.starfightersspace.com, 24. stockanalysis.com, 25. www.investing.com, 26. www.benzinga.com, 27. www.sec.gov, 28. www.sec.gov, 29. ir.starfightersspace.com, 30. stocktwits.com, 31. stockanalysis.com, 32. www.sec.gov
