BUZZ-Swarmer falls after soaring 1,000% since Nasdaq debut this week

Swarmer, Inc. -4.07% Post

Swarmer, Inc.

SWMR

41.20

40.53

-4.07%

-1.63% Post

** Shares of drone autonomy software company Swarmer SWMR.O fall 10% at $49.49 premarket

** Stock pulled back after a blistering 1,000% surge in its first two days of trading that has vaulted its market value to $679.17 million as of last close

** On Tuesday, SWMR opened at $13 on the Nasdaq versus its $5 IPO price and closed at $31, valuing the Ukraine-focused drone software firm

** Co raised funds by offering 3 mln shares, with plans to use proceeds to expand product capabilities, integrate software with drone manufacturers' hardware, hire staff and support general corporate needs


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