Mw Here's Why Drone Maker Airo's Stock Is Still Hot, Despite Weak Demand For The Ipo

Monday’s trading session has brought significant movements across the board, with stocks like Palantir Technologies Inc (NASDAQ:PLTR) and Circle Internet Group Inc (CRCL) experiencing notable gains. From the tech giants on NASDAQGS to financial services on NYSE, here are some of the key stock movers in the mega-cap and large-cap categories.

Mega-Cap Movers ($200 billion USD or higher):

• Palantir Technologies Inc (PLTR): +4.17%
• Facebook Inc (NASDAQ:META): +3.34%
• Alibaba-exch (BABA): +3.47%
• IBM (NYSE:IBM): +2.62%
• American Express (NYSE:AXP); American Express to refresh Platinum Cards with major updates: +2.46%

Large-Cap Stock Movers ($10-$200 billion USD):

• Circle Internet Group Inc (CRCL): +22.79%
• Roku (NASDAQ:ROKU); Amazon (NASDAQ:AMZN) and Roku partner to create largest authenticated CTV reach: +10.15%
• Astera Labs (ALAB): +8.14%
• Oaktree Acquisition Corp (NYSE:HIMS): +8.54%
• Credo Technology Holding (CRDO): +6.6%
• Chime Financial (CHYM): +4.82%
• Yandex (NASDAQ:NBIS): +6.57%
• Adv Micro Device (NASDAQ:AMD): +8.15%
• Celsius Holdings (NASDAQ:CELH): +6.79%
• Futu Holdings (NASDAQ:FUTU): +7.55%

Mid-Cap Stock Movers ($2-$10 billion USD):

• Regencell Bioscience Holdings (RGC): +328.4%
• EchoStar Corp (NASDAQ:SATS): +49.08%
• Sarepta (NASDAQ:SRPT); BMO Capital downgrades Sarepta stock after second fatal liver case: -47.87%
• Nuscale Power (SMR): +13.08%
• Quantum Computing OTC (QUBT): +15.74%
• Uranium Energy Corp (NYSE:UEC): +10.72%
• LZ Tech Holdings (LZMH): -16.74%
• New Providence Acquisition Corp N (ASTS): +9.46%
• PagSeguro Digital (NYSE:PAGS): +8.79%

Small-Cap Stock Movers ($300 million -$2 billion USD):

• AIRO Holdings (AIRO): +140.0%
• Sage Therapeutic (NASDAQ:SAGE); Supernus to acquire Sage Therapeutics for up to $795 million: +35.45%
• MER Telemanagemen (SBET): +45.28%
• Centricus Acquisition (ARQQ): +21.24%
• Kulr Technology Group OTC (KULR): -14.87%
• Sustainable Opportunities Acqui (TMC); Korea Zinc to invest $85.2 million in TMC for critical metals supply: +18.89%
• Janover (DFDV); DeFi Dev Corp. Announces dfdvSOL/SOL Liquidity Pool (NASDAQ:POOL) Support on Orca to Enhance Utility & Fuel SOL Per Share Growth: +15.37%
• Urogen Pharma Ltd (NASDAQ:URGN); UroGen Pharma stock rating upgraded to buy by H.C. Wainwright: +17.71%
• Nano Nuclear Energy (NNE); NANO Nuclear Appoints Matthew Barry as Director of Investor Relations: +16.9%
• TSS Inc (TSSI): +16.26%

For real-time, market-moving news, join Investing Pro.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com - Airo Group’s market debut on Friday is reflective of "healthy investor appetite" for aerospace and defense stocks, and comes as a recent bout of economic uncertainty is calming, the drone maker’s Chairman and Co-founder Chirinjeev Kathuria has told Investing.com in an interview on Friday.

At 11:14 ET (15:14 GMT), shares were up as much as 81.5%, trading at $18.50. The stock had opened at $12.90.

Airo, which is trading on the Nasdaq Composite under the symbol "AIRO," priced its initial public offering of 6 million shares of its common stock at $10 per share. It had previously said it would offer 5 million shares at a projected range of $14 to $16 a share.

The New Mexico-based group said it expected to accrue gross proceeds from the offering of $60 million, before deducting underwriting discounts, commissions and other offerings expenses.

Underwriters of the flotation have been granted a 30-day option to purchase up to an additional 900,000 shares, solely to cover any potential over-allotments, Airo added. Cantor Fitzgerald, BTIG, and Mizuho acted as joint lead book-running managers for the proposed offering, it noted.

The Airo Group IPO was reportedly multiple times oversubscribed, according to Bloomberg. The offering is expected to close on June 16, subject to customary closing conditions.

Kathuria said Airo had gained "significant commercial traction" in recent years, particularly as an increasing number of countries look to bolster their defense capabilities in response to global conflicts. Kathuria had previously indicated interest in buying as much as $5 million worth of shares at the offering price.

"Given this recent growth, and the opportunities for our business ahead, we believe this is the ideal time for Airo to enter the public markets and enter our next phase of growth," Kathuria said. 

Initial public offerings were largely muted after President Donald Trump unveiled his sweeping "reciprocal" tariffs at a so-called "liberation day" event on April 2.

Despite a broad-based climb in global stocks since then, investors have flagged worries over uncertainty stemming from often-erratic changes to Trump’s trade stance. Some high-profile names, including buy-now-pay-later firm Klarna and ticket platform StubHub, have reportedly delayed their IPO plans as a result of the murky outlook.

Yet the IPO market has staged a recent revival. On Thursday, fintech company Chime’s shares logged a roughly 37% spike in its debut, following in the footsteps of strong performances from Circle, CoreWeave and eToro after their recent flotations. 

"The aerospace and defense sector has healthy investor appetite, and we believe we are strategically positioned in this IPO window with macro-economic uncertainty quieting down," Kathuria said.

While the duties impact a "wide range of players" in the aerospace and defense segment, Airo’s agility and diversification have also given it the tools to weather any changes in U.S. trade policies, Kathuria noted.

Although Trump has delayed most of his elevated tariffs for 90 days in order to give officials more time to negotiate trade deals with individual countries, it remains broadly unclear where these talks stand. The White House’s pause is due to expire in early July.

This week, Trump said the U.S. plans to send out letters to dozens of nations soon that will set out the terms of trade deals. He added that these countries will then have to choose whether to "take it, or [...] leave it."

Airo has taken steps to reduce its exposure to the levies, but the company believes the "tariff dynamic is simmering down" and the economic backdrop is becoming "more clear," Kathuria said.

(Senad Karaahmetovic contributed reporting.)

Today’s IPO for AIRO Group Holdings (AIRO) opened for trading at $12.90 after pricing at $10

• 6,000,000 shares were offered in the IPO
• Cantor, BTIG, and Mizuho are acting as joint lead book-running managers
• AIRO is a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. AIRO is organized into four operating segments, each of which represents a critical growth vector in the aerospace and defense market: Drones, Avionics, Training, and Electric Air Mobility.