War Boosts Prospects for Aevex Corp. (AVEX), Skyrockets 24%

Aevex Corp. (NYSE:AVEX) is one of the 10 Stocks With Double-Digit Returns.

Aevex soared even higher in its second day as a publicly listed company, as investor optimism continued to be fueled by the rosy prospects for the industry amid the ongoing geopolitical tensions.

At intra-day trading, Aevex Corp. (NYSE:AVEX)—a military drone-maker—climbed to as high as $42.34 before paring gains to end the session just up by 24.06 percent at $33.41 apiece.

Photo from Aevex website

From its initial public offering price of $20, its peak already represented a 111.7 percent growth in its stock.

The strong debut came on the heels of ongoing geopolitical tensions, which highlighted the need for stronger military defense products and services.

Aevex Corp. (NYSE:AVEX) successfully raised $320 million in fresh funds from the sale of 16 million shares to the public, valuing the company at $2.6 billion.

Proceeds from the offer, according to Aevex Corp. (NYSE:AVEX), will be used for the acquisition of 16 million shares in Athena Technology Solutions Holdings, LLC—a leading provider of full-spectrum airborne intelligence solutions for the global intelligence community.

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