Quick Read Swarmer (SWMR) surged 520% on its trading debut to a $679M valuation on just $310K in revenue and an $8.5M net loss, with its 292x price-to-sales multiple exceeding even Palantir (PLTR) at 81x. AeroVironment (AVAV), the established drone-software player at $1.6B revenue and $10.8B market cap, trades at 7x sales and posted a $156.6M loss after losing a Space Force contract. Retail investors are chasing Swarmer’s combat-proven AI platform deployed across 100,000+ real-world Ukraine missions an ...