12 Best IPO Stocks with Huge Upside Potential

8. Firefly Aerospace Inc. (NASDAQ:FLY)

Average Upside Potential: 60.71%

Firefly Aerospace Inc. (NASDAQ:FLY) is one of the best IPO stocks with huge upside potential. On June 30, Firefly Aerospace and SSC Space announced the achievement of critical milestones for the development of Launch Complex 3C at the Esrange Space Center in Sweden. Following the completion of key infrastructure and the establishment of international regulatory frameworks, the companies have entered the final stages of pad construction with the first orbital launch of the Alpha rocket targeted for 2028.

The infrastructure development includes a new launch control center, payload processing facility, and vehicle integration building. These advancements are supported by a recent Memorandum of Cooperation between the Swedish National Space Agency and the US Federal Aviation Administration, which streamlines licensing processes and builds upon a bilateral Technology Safeguards Agreement to facilitate the export of US space technology.

This collaboration expands Europe’s access to space and strengthens strategic autonomy by providing a dedicated site for polar and sun-synchronous orbit missions. Additionally, SSC Space has secured a SEK 209 million agreement with the Swedish Defense Materiel Administration, enabling the Swedish Armed Forces to utilize the Alpha launch vehicle for future domestic satellite missions.

Firefly Aerospace Inc. (NASDAQ:FLY) is a space and defense technology company serving government, national security, and commercial customers. The company offers integrated launch and space services technology. It also offers Ocula, a lunar imaging service, alongside software and sensor solutions, and responsive space services.