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Big Volatility For Small But Buzzy IPO -- WSJ

Dow Jones02:41

By Corrie Driebusch

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.

Swarmer's first-day 520% rise was the biggest for any IPO that raised at least $10 million since 2023 when Sacks Parente Golf rose 624% in its stock-market debut, according to Dealogic.

Sacks Parente Golf's stock hasn't fared so well since its first-day party. Within days of its high-flying IPO, Sacks Parente Golf's stock lost the majority of its gains. It has since rebranded as Newton Golf Company and instituted a reverse stock split.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

March 20, 2026 14:41 ET (18:41 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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