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.

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.:

After several big IPOs including Figma last week, the IPO market stayed hot with Firefly Aerospace, which is now approaching a $10 billion valuation out of the gate. I would categorize space as one of the hot sectors, along with artificial intelligence, crypto, and quantum computing, that investors can't seem to get enough of.