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.

S hares for Central Texas-based Firefly Aerospace began trading on the Nasdaq market Thursday. The company, which landed a spacecraft on the moon in March, celebrated by igniting a rocket engine north of Austin as its chief executive rang the opening bell in New York City.

Firefly Aerospace soared in its public market debut Thursday, beginning trading at $70, over 55% higher than its IPO price. The Cedar Park-based company secured a $9.8 billion valuation.