Firefly Aerospace Inc.

(NYSE:FLY) stock is surging on Thursday, gaining roughly 6.5% as intense sector-wide enthusiasm sweeps through the space exploration market.

The rally comes ahead of the highly anticipated market debut of Elon Musk's SpaceX under the ticker symbol SPCX.

Nasdaq futures are up 1.02% while S&P 500 futures have gained 0.58%.

SpaceX IPO Triggers Sector Rally Wall Street is preparing for the anticipated SpaceX initial public offering (IPO), which is expected to position the company as an industry leader with a projected valuation of approximately $1.8 trillion.