Table of Contents

• Firefly Aerospace

• Robinhood

Top Stories Today

Firefly Aerospace

Firefly Aerospace, the Texas‑based developer of small launch vehicles, space tugs and the Blue Ghost lunar lander, quietly filed paperwork Friday to go public on Nasdaq under the symbol FLY. The move marks another entry in a rebounding IPO market that has seen recent debut filings from the likes of Figma and renewed optimism following strong transactions by Circle and Scale AI, despite earlier postponements by companies such as Klarna and StubHub amid tariff‑driven volatility. In its filing, Firefly reported that revenue leapt to roughly $55.9 million for the year ending March, more than six times the prior year’s $8.3 million, while its net loss widened slightly to $60.1 million. The company also disclosed a $1.1 billion backlog of bookings. Goldman Sachs, JPMorgan, Jefferies and Wells Fargo are leading the underwriting group.

Robinhood

Robinhood shares vaulted to fresh highs Friday as the crypto-driven rally pushed the stock above $100 intraday before easing back, capping a banner year (roughly +160% YTD). The move came even as a report that JPMorgan may start charging fintechs for access to bank account data rattled the sector and knocked other digital-finance names lower. At the same time Robinhood faces multiple headwinds: a Florida regulator has opened a probe into its crypto pricing and trade-routing practices, the firm’s plan to keep a 25% cut of U.S. staking rewards has drawn criticism, and its European rollout of tokenized “stock” products sparked objections from OpenAI and questions from regulators. Company leaders defend the products and disclosures, and investors are also betting political developments, including a new law creating government-seeded investment accounts for newborns, could benefit the platform.

Thanks for reading, subscribe to The Standard Lens for more.