Applied Aerospace IPO prices at $650M, shares decline 5% on first day
Applied Aerospace went public Wednesday with a $650 million IPO valuation, but shares fell 5% in early trading, signaling investor caution around aerospace-adjacent hardware plays in a volatile equity market.
The decline underscores ongoing headwinds for pre-profitability hardware and manufacturing IPOs, even as investors remain engaged with AI infrastructure and defense-tech rounds.