Swarmer Inc. Shares Rise Over 1,000% in Nasdaq Debut

Swarmer Inc., a defense technology company specializing in autonomous drone software, made a dramatic Nasdaq debut on Tuesday, March 17, with shares surging more than 1,000 percent from their initial public offering price within days, fueled by investor enthusiasm for its battle-tested artificial intelligence systems.

The Austin, Texas-based firm, which traces its origins to Ukraine in 2023, priced its IPO at $5 per share, selling about 3 million shares to raise approximately $15 million in gross proceeds, or $14.7 million net after expenses. Shares opened at $12.50, a 150 percent premium, and closed the first trading session at $31, marking a 520 percent gain. The rally continued on Wednesday, with the stock closing at $55, before peaking at $61 early Thursday and pulling back to around $50.75 by midday, a decline of about 7.7 percent for the session. The broader market also dipped, with the S&P 500 down 0.4 percent and the Dow Jones Industrial Average off 0.6 percent.

Trading volume underscored the frenzy, exceeding 34 million shares over the initial days, more than 10 times the number offered in the IPO. This activity triggered multiple volatility halts on the exchange,...