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Defense technology company Aevex Corp. (AVEX) continued its stellar rally in Monday’s overnight trading, with shares climbing nearly 11% higher after closing up 24% in regular trading sessions.
The Solana Beach, California-based military drone manufacturer debuted on the New York Stock Exchange on April 17, listing at $20 per share. The stock more than doubled on its second day of trading, climbing as high as $42.34 intraday, fueled by the ongoing geopolitical tensions amid the U.S.-Iran war.
AVEX stock also garnered significant retail attention on Stocktwits, with 24-hour message volumes surging more than 1,261% to ‘extremely high’ levels, according to platform data, as users cheered the strong performance.
Aevex raised $320 million in its U.S. initial public offering, selling 16 million shares at $20 each on Friday, priced between $18 and $21 per share. Shares of the company opened higher at $23.01 apiece, pushing its valuation to more than $2.5 billion after its debut.
Aevex is a defense technology contractor that provides airborne intelligence, surveillance, and other offerings to the U.S. government and its allied forces, including the Department of War, Special Operations Forces, the Intelligence Community, and international partners.
The company operates through two segments: tactical systems, which provide unmanned surface vehicles (drone boats), and global solutions, which provide AI-enabled full-spectrum airborne solutions, counter-unmanned aerial systems, and additive manufacturing, among others.
For 2025, about 78% of the company’s revenue came from the U.S. government and its agencies. Aevex has delivered more than 6,200 autonomous systems, with an additional 3,900 committed through the end of 2026 across 35 platform deployments to over 30 active customers.
The company’s main programs, Phoenix Ghost and EUCOM AOR Deep Strike, represent over 9,300 systems delivered and committed through the end of 2026, with a total contract value of more than $1.2 billion.
On Stocktwits, retail sentiment around AVEX shares has stayed in the ‘extremely bullish’ territory since its debut.
One user called it “one of the strongest defense IPOs” in years, cheering the company’s strong drone deliveries and backlog as the world shifts toward drone warfare, and the company “is sitting right in the center of it.”
Another bullish user said Aevex “is the real deal,” given its current projects.
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