Business
Big Volatility For Small But Buzzy IPO
It’s been a volatile few days for the buzziest IPO of the week.
A wave of mom-and-pop investors sent shares of small drone-software company Swarmer soaring after it went public on Tuesday. Then yesterday, shares started falling, and the declines accelerated in Friday’s trading session.
Swarmer priced its IPO at $5 a share. The stock climbed to close trading on Wednesday at $55. It recently traded at $39.25 a share, down 25% from yesterday’s close but still well above its $5 IPO price.
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