US military drone manufacturer Aevex's stock price doubled in two days after going public, defense technology stocks are sought after.

American military drone manufacturer Aevex Corp.'s stock price doubled in two trading days, becoming one of the standout defense technology companies since going public recently. The company is backed by Madison Dearborn Partners, and its Class A shares surged 49% on Monday to $40.25, doubling from the initial public offering price of $20 last week. This offering comes at a time of booming IPOs for defense technology companies, as global conflicts escalate and countries increase their military spending to counter new threats. Drones, in particular, are receiving attention as they are widely used in current conflicts by Iran, Israel, and the United States.