Swarmer falls after soaring 1,000% since Nasdaq debut this week

Shares of drone autonomy software company Swarmer SWMR.O fall 10% at $49.49 premarket

Stock pulled back after a blistering 1,000% surge in its first two days of trading that has vaulted its market value to $679.17 million as of last close

On Tuesday, SWMR opened at $13 on the Nasdaq versus its $5 IPO price and closed at $31, valuing the Ukraine-focused drone software firm

Co raised funds by offering 3 mln shares, with plans to use proceeds to expand product capabilities, integrate software with drone manufacturers' hardware, hire staff and support general corporate needs