Firefly Aerospace's ( FLY) stock is sputtering, just one day after its trading debut, when enthusiasm for the new listing sent shares soaring. The space company's stock was down 13% to about $52 Friday afternoon, wiping out more than half its gains in its first day of trading yesterday.

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.:

By Manya Saini (Reuters) -Firefly Aerospace shares fell 11% in morning trading on Friday, in what was perceived as a normal market swing, but the space tech firm's robust debut highlighted renewed investor appetite for high-growth listings.