Starfighters Space (FJET): The Next Big Space Stock?

If you’ve been tracking the aerospace sector, you likely noticed the arrival of Starfighters Space, Inc. (FJET) on the NYSE American exchange. Emerging from a unique "Regulation A" transition, FJET is a high-speed player in the burgeoning commercial space market.

Here is a breakdown of what the company does, its current financial standing, and the risks involved for investors.

What is Starfighters Space?

Starfighters Space isn't your typical satellite company. Based at NASA’s Kennedy Space Center, it operates a fleet of modified F-104 supersonic aircraft. These jets are capable of reaching Mach 2 speeds and climbing to high altitudes, serving as a "launchpad in the sky."

Key Operations Include:

• Air Launch to Space: Using supersonic jets to carry small satellite payloads to high altitudes for sub-orbital launches.
• Hypersonic Testing: Providing a platform for government and private entities to test equipment at extreme speeds.
• Pilot & Space Flight Training: Training the next generation of commercial astronauts and supersonic pilots.
• Scientific Research: Supporting high-altitude atmospheric and microgravity research.

Key Financial Metrics to Watch:

• Initial IPO Price: $3.59 per share.
• Market Cap: Approximately $246 million.
• The "Burn" Rate: FJET reported a net income of -$6.9 million over the last year. Like many aerospace firms, they are currently in a pre-profit phase, spending heavily on R&D.
• Liquidity: With a current ratio of 0.32, the company is in a race to turn its technology into revenue before it needs to seek more capital.

Current Stock Performance (As of December 22, 2025)

FJET has seen intense volatility since its initial listing on December 18, 2025. After closing its first session at $3.59, it saw a massive surge, followed by a sharp correction.

Note: Stock prices for new IPOs fluctuate rapidly. FJET has experienced daily swings of over 20-30%.

FJET Stock Outlook: High Growth vs. High Risk

The company recently raised $40 million through its listing to fund the development of its STARLAUNCH I and II programs. However, like many early-stage aerospace firms, the financials show significant "burn" as they scale.

• Liquidity Concerns: Recent data shows a current ratio of 0.32, which indicates the company may face challenges meeting short-term financial obligations without further capital raises.
• Profitability: FJET reported an EBITDA of -$5.6 million over the last twelve months. It is currently in a pre-profit "growth phase."
• Market Position: It claims to be the only commercial entity capable of sustained Mach 2 flight for payload delivery, giving it a unique niche in the "small-sat" launch market.

Investor Considerations

The Bull Case (The "Upside")

• Reusable Platform: Unlike traditional rockets, FJET's jets are reusable, which could significantly lower the cost of sub-orbital launches.
• Strategic Location: Operating out of a NASA facility provides unique infrastructure advantages and prestige.
• Market Demand: The demand for small satellite launches (Starlink, earth observation, etc.) is at an all-time high.

The Bear Case (The "Risks")

• Extreme Volatility: This is currently a "battleground stock." It is not uncommon for it to jump or drop 40% in a single day.
• Execution Risk: The STARLAUNCH programs are still in development. Any technical setbacks could hurt the stock price.
• Financial Distress: Metrics like the Altman Z-Score (a measure of bankruptcy risk) suggest the company is in a fragile financial state until it can commercialize its tech at scale.

FJET Stock Forecast (2026–2030)

Predicting a stock this new is a bit like predicting the weather in a hurricane. However, based on the current aerospace landscape and company milestones, here is the projected outlook:

Short-Term (2026): The "Execution" Year

The next 12 months will be defined by the first commercial flights of the STARLAUNCH system.

• The Bull Case: If FJET successfully deploys its first commercial payload by mid-2026, analysts suggest the stock could stabilize in the $12.00–$15.00 range.
• The Bear Case: Technical delays or further "share dilution" (issuing more stock to raise cash) could see the price drift back toward its support level of $5.00–$6.00.

Long-Term (2027–2030): The Hypersonic Boom

By 2030, the "Small Sat" (small satellite) market is expected to be a multi-billion dollar industry.

• Revenue Streams: Beyond just launching satellites, FJET is positioning itself as a premier testing ground for hypersonic weapons research—a sector the U.S. DoD has earmarked for $6.9 billion in 2025 alone.
• Outlook: If FJET captures even a small slice of the defense testing market, the long-term growth could be exponential. However, investors should remain cautious of the high failure rate in the "New Space" sector.

Should You Buy FJET today?

Starfighters Space (FJET) is a "moonshot" investment. It offers a fascinating technology with high potential in the commercial space race, but it is currently burdened by weak liquidity and massive price swings. It may be better suited for risk-tolerant traders than conservative, long-term investors.

Will FJET hit $20 or drift back to $5? Subscribe to our newsletter to see our updated 2026 price targets.