Swarmer, Inc Common Stock

SWMR

Market cap $453M

A $15 million IPO just spawned a ~$679 million company in two days, an almost unheard of scenario.

Three IPOs priced this past week, joined by two SPACs, and one major issuer joined the pipeline. One IPO and one direct listing are currently scheduled in the week ahead, although some smaller issuers may join the calendar throughout the week. Street research is expected for one company in the week ahead, and three lock-up periods will be expiring.

Shares of tech defense company Swarmer have skyrocketed since its March 17 IPO. The company's software has been used in over 100,000 real-world missions.

Swarmer develops autonomy software that coordinates tactical drone swarms, allowing one operator to manage large numbers of unmanned systems for reconnaissance and strike missions.

With shares trading around 53 Thursday, the new issue is up about 950% from its initial offering. That's by far the best performing IPO this year.

Despite the decline, the stock has surged over 800% from its list price of $5.

Micron Technology (MU) delivered Q2 results and guidance that far exceeded Wall Street expectations, driven by AI-fueled memory demand. AI drone firm Swarmer (SWMR) jumps 1,000% in two days.