Swarmer Shares Surge 700% in Debut, Close Up 520% at $31 [Yahoo! Finance]
Newsmax, Inc. Class B (NMAX)
Company Research
Source: Yahoo! Finance
This article first appeared on GuruFocus Swarmer Inc. ( NASDAQ:SWMR ) shares delivered a standout debut, surging as much as 700% intraday before closing up 520% at $31, marking one of the strongest US listings since Newsmax Inc.'s entry nearly a year ago. The Austin-based artificial intelligence drone software company raised $15 million by selling 3 million shares at $5 each, initially valuing the business at just over $60 million. By the end of its first trading session, that valuation had expanded to more than $380 million based on outstanding shares disclosed in a US Securities and Exchange Commission filing, although trading was repeatedly halted due to volatility, including within the first minute after an early drop of more than 10%. Warning! GuruFocus has detected 2 Warning Sign with DLAKY. Is SWMR fairly valued? Test your thesis with our free DCF calculator. The rally comes even as the company's financial profile remains limited. Swarmer reported revenue of $309,920 f
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