Starfighters Space Inc (NYSE:FJET) shares are skyrocketing Monday afternoon following its recent IPO. The stock, which opened at $7.73 Monday morning, has seen massive volatility and heavy trading volume of over 36 million shares, dwarfing its average daily volume of roughly 5.2 million. Here’s what investors need to know.

• Starfighters Space stock is at critical resistance. Why are FJET shares at highs?

What To Know: The sharp move higher comes as the company officially began trading last Thursday, following an IPO priced at $3.59 that raised $40 million to fund its hypersonic R&D and satellite launch operations.

Starfighters, which operates a fleet of F-104 supersonic aircraft from NASA's Kennedy Space Center, aims to provide accessible sub-orbital launch services for small satellites.

FJET’s rally coincides with broader momentum across the space sector. Rocket Lab hit all-time highs above $78 Monday after securing an $816 million contract with the Space Development Agency, while Sidus Space surged over 90% on a new missile defense contract.

Market sentiment is further lifted by reports of potential IPOs for SpaceX and Blue Origin, alongside Google's interest in space-based computing, fueling trader and investor appetite for aerospace plays.

FJET Price Action: Starfighters Space shares were up 252.62% at $23.20 at the time of publication on Monday. The stock is trading at a new 52-week high, according to Benzinga Pro data.

With the stock reaching a new high, it is essential to identify potential support and resistance levels. The previous high of $17.72 may now act as a support level, while the psychological barrier of $25 could serve as a resistance point in the near term. Traders will be closely monitoring these levels as they gauge the stock’s momentum and potential pullbacks.

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