Key Highlights

  • Starfighters Space (NYSEAMERICAN:FJET) traded at USD 0.8952, up 9.81%, in pre-market trading on Thursday, October 29, 2026; the company is advancing STARLAUNCH 1 towards a planned captive-carry flight in December 2026, per its release of Tuesday, October 13, 2026.
  • Kodiak AI (NASDAQ:KDK) traded at USD 1.47, up 12.21%; second-quarter 2026 revenue was USD 3.5 million, up 91% on the prior quarter, and the GAAP operating loss was USD 43.7 million.
  • Forge Nano (NASDAQ:NANO) traded at USD 4.49, up 6.40%; it began trading as NANO on Thursday, October 22, 2026 after completing its business combination, with a USD 100 million Department of Energy grant cited in the release.
  • No company announcement dated on or just before the session accompanied any of the three gains. The common driver is a dated milestone timetable in each company, with financial results lagging the programme news.

Starfighters Space (NYSEAMERICAN:FJET): Flight hardware and a December test

Starfighters Space (NYSEAMERICAN:FJET), a Florida company that operates F-104 Starfighter jets and plans to launch small satellites from them, traded in the pre-market snapshot with no company-specific announcement dated on Wednesday, October 28, 2026 or Thursday, October 29, 2026. The latest releases are dated Tuesday, October 13, 2026 and Wednesday, October 21, 2026. The first concerns a captive-carry flight, in which the vehicle is carried aloft beneath the aircraft without launch. The second stated that the company will show its F-104 jets at the NASA MAX POWER airshow at Kennedy Space Center on Saturday, November 7, 2026 and Sunday, November 8, 2026.

The release of Tuesday, October 13, 2026 disclosed that flight hardware has been ordered from Robby Moto Engineering, with receipt expected in November 2026. A release of Thursday, October 8, 2026 reported completion of the first two modular underwing articles for the Wind Tunnel in the Sky programme, designed for testing at Mach 2 and above. In September 2026 the company signed non-binding memoranda of understanding with The Bionetics Corporation on Wednesday, September 2, 2026 and with Vaya Defense & Space on Wednesday, September 9, 2026. The company has also announced a strategic investment of about USD 17.5 million during 2026. The October releases contained no revenue, cash or contract figures.

The bull reading is that dated hardware deliveries and two memoranda show programme progress that could attract customers. The bear reading is that no contract revenue was announced in October 2026, that milestones can slip and that the pre-market gain may reverse, as the stock has recorded large daily declines in recent weeks. Named risks include funding needs, dilution, a price below USD 1 that may draw an exchange notice and technical risk in a new launch method.

Kodiak AI (NASDAQ:KDK): Driverless trucks against a cash burn

Kodiak AI (NASDAQ:KDK), a developer of autonomous driving technology for long-haul and off-road trucks, traded in the pre-market snapshot without a company-specific announcement dated on Wednesday, October 28, 2026 or Thursday, October 29, 2026. The latest release, dated Tuesday, October 20, 2026, stated that one Kodiak Driver-equipped truck ran 64 consecutive days without powering off in the Permian Basin and that the Atlas Energy Solutions fleet had 35 driverless trucks with more than 40,000 cumulative hours of paid driverless operation. The advance appears consistent with thin liquidity and sector sentiment rather than a new disclosure.

According to the earnings call summary, the non-GAAP operating loss, which excludes stock-based compensation, was USD 37.3 million. Cash, cash equivalents and marketable securities were USD 151 million, and second-quarter free cash flow was negative USD 38 million. Management guided third-quarter free cash flow to negative USD 39 million to negative USD 41 million and narrowed the full-year range to negative USD 155 million to negative USD 162 million. An autonomy readiness measure, a gauge of progress towards the safety case for driverless highway operation, reached 96% at the end of September 2026, up from 93% at the end of August 2026. Revenue included slightly over USD 1 million from a one-time demonstration programme.

The bull reading is that a commitment to 100 trucks for Atlas Energy Solutions by mid-2027 and a planned driverless launch on Interstate 45 between Dallas and Houston by the end of 2026 point to commercial deployment. The bear reading is that revenue sits against quarterly free cash outflow near USD 40 million. Named risks are financing, regulatory acceptance, a new truck platform and customer concentration.

Forge Nano (NASDAQ:NANO): A newly listed coatings producer

Forge Nano (NASDAQ:NANO), an advanced manufacturing company applying precision coatings to battery, chip and defence materials, traded at USD 4.49 in the pre-market snapshot, and simple arithmetic implies a prior close of about USD 4.22. The pre-market snapshot of Wednesday, October 28, 2026 was USD 5.10, so the implied close suggests a weaker regular session. No company-specific announcement dated on or just before Thursday, October 29, 2026 accompanied the move. The latest release, dated Thursday, October 22, 2026, confirmed completion of the merger with the special purpose acquisition company Archimedes Tech SPAC Partners II. The gain appears consistent with volatile early trading of a newly listed stock, which is an inference.

The company described on Tuesday, April 21, 2026 a transaction at a pre-money equity value of about USD 1.2 billion, or USD 1.595 billion assuming no redemptions, with an earnout of up to USD 900 million. Gross proceeds were expected to reach up to USD 342 million, comprising USD 242 million in trust at Thursday, April 9, 2026 and a USD 100 million private placement. An off-take agreement of USD 84 million was also cited. The release named Volkswagen, Air Liquide, Hanwha Aerospace, GM Ventures, LG Technology Ventures and Samsung SDI among industrial backers. No revenue, net loss or cash figures were part of the releases cited.

The bull reading rests on the industrial backers, the grant and the off-take agreement. The bear reading rests on the absence of reported financials, a valuation set at the announcement date and an earnout that can add shares. Named risks include redemptions that reduced trust proceeds, a small public float and manufacturing scale-up.

Where Things Stand

The answer is that the gains are plausible but rest on milestones rather than results. Starfighters Space (NYSEAMERICAN:FJET) has a dated flight test but no disclosed revenue, Kodiak AI (NASDAQ:KDK) has the most complete financial record and the heaviest cash consumption, and Forge Nano (NASDAQ:NANO) has the largest stated valuation with no reported financials at all.

The next catalysts are the 9:30 a.m. ET open on Thursday, October 29, 2026, the third-quarter results of Kodiak AI after the close on Thursday, November 5, 2026, the airshow on Saturday, November 7, 2026 and the planned December 2026 flight. The first results of Forge Nano as a listed company are also due. Pre-market prices are snapshots and can change, and this is not investment advice.