Shares of U.S. military drone manufacturer Aevex doubled within two days of listing, as defense technology stocks gain popularity

The company, backed by Madison Dearborn Partners, saw its Class A shares surge as much as 49% to $40.25 in New York on Monday, doubling from its IPO price of $20 last week. Arxis Inc., supported by Arcline Investment Management, soared 38% on its first day of listing last week, raising $1.13 billion; meanwhile, drone software company Swarmer Inc. saw its stock price skyrocket by 1,000% over the first two trading days following its IPO in March. As military spending shifts toward new-generation systems centered on unmanned, relatively low-cost technologies such as drones, investor interest has also risen, positioning Aevex to benefit. In the United States, the Trump administration plans to expand and advance the modernization of missile stockpiles. Read more