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Drone Company Supported by Notorious US Mercenary Sees 520% Stock Market Debut Jump
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Drone Firm Swarmer Jumps 520% on Nasdaq Debut, Backed by Erik Prince
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Firstpost
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18-03-2026, 13:16
Drone Firm Swarmer Jumps 520% on Nasdaq Debut, Backed by Erik Prince
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Austin-based drone software developer Swarmer saw its shares surge 520% on its Nasdaq debut, closing at $31 per share.
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The company, backed by Erik Prince, founder of Blackwater, achieved a market capitalization of roughly $380 million.
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Swarmer develops AI-powered software enabling a single operator to control large numbers of drones simultaneously, used by Ukrainian forces.
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The rally is one of the strongest first-day performances for a newly listed US company, despite modest financials and $8.5 million net losses.
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US regulatory shifts restricting foreign-made drones, particularly from DJI, have opened opportunities for domestic players like Swarmer.
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