Newly public Terran Orbital stock hits 52-week low

Newly public Terran Orbital (LLAP) shares hit a 52-week low early Friday.

Shares recently changed hands at $ 5.83, down 4%, at approximately 10:05 am ET. The stock opened at $ 6.29 and quickly hit a 52-week low of $ 5.75 before moving higher.

Terran Orbital stock has been losing ground since Tuesday afternoon, dropping 10% on Thursday to close at $ 6.04. It reached a 52-week high of $ 12.69 on March 28 following its market debut.

Early Friday, Terran Orbital announced that management would be making a presentation at the Jefferies Virtual Space Summit on April 12.

Terran Orbital went public on March 28 in the wake of a merger with SPAC Tailwind Two Acquisition Corp.

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