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Drone Maker Swarmer (SWMR) Sees Stock Surge Nearly 600% in Market Debut
The stock of drone-software company Swarmer (SWMR) is up nearly 600% in its market debut.
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The company held its initial public offering (IPO) on March 17 and began trading on the Nasdaq NDAQ +0.97% ▲ exchange under the ticker symbol “SWMR.” The stock came out of the gate strong and was up 593% in mid-afternoon trading.
The IPO price for Swarmer’s stock had been set at just $5 per share. But the shares opened trading at $12.50, representing a 150% premium and quickly moved higher from there. By 2 p.m. on March 17, SWMR stock was changing hands at $34.63 per share.
Swarmer’s Big IPO
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