By Corrie Driebusch
The hottest stock this week is a small drone software maker that lost more than $8.5 million last year.
Swarmer made its stock market debut on Tuesday, raising just $15 million in a public offering that flew under the radar of many of the largest fund managers. Then individual investors got wind of the stock, and shares began to soar.
Swarmer's IPO priced at $5 a share. By the end of Tuesday, it traded up 520% at $31. Today the stock is bobbling; it traded up to $61 early in the trading session, but recently traded around $51 apiece.
The stock's success reflects individual-investor desire for the defense sector while military conflicts swirl in the Middle East and in Ukraine. Also helping the stock-traders say some investors have made bets against the company's meteoric rise, and then have been squeezed out of those short positions.
"It certainly speaks to retail interest in the new domains of warfare," said Ian Winer, founder and CEO of Center15 Capital, a growth-stage investor in private defense technology companies including ShieldAI.
"That said, I don't consider it in the same class as the top private defense tech companies."
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
March 19, 2026 11:03 ET (15:03 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.

