Bridger Aerospace (NASDAQ:BAER) stock continues to rally after the company made its public debut yesterday.
BAER stock started trading on the Nasdaq on Wednesday after Bridger Aerospace completed its special purpose acquisition company (SPAC) merger with Jack Creek Investment. BAER stock saw a massive rally alongside its debut as well as heavy trading volume.
It looks like that momentum is sticking around on Thursday as investors continue to take interest in BAER. However, traders should note that sometimes we see these massive rallies from SPAC mergers only for them to come crashing down in the following days.
What Is Bridger Aerospace?
Bridger Aerospace is an aerial firefighting company that makes use of aircraft to battle wildfires. The company often works with federal and state government agencies to tackle wildfires with its management services.
Bridger was founded and is led by former Navy SEAL Tim Sheehy. The company also makes use of a recurring revenue model that has given it consistent, strong financial performance.
As far as pre-market trading volume goes, some 76,000 shares have changed hands as of this writing. For the record, the company traded some 363,000 shares during its public debut yesterday. BAER stock is also up 20% Thursday morning.
Investors looking for more of the latest stock market news this morning will want to keep reading!
We’ve got all of the hottest stock market news traders need to know about on Thursday! Among that is why shares of Qualtrics International (NASDAQ:XM) stock are rising, this morning’s biggest pre-market stock movers and more. You can catch up on that at the following links!
More Thursday Stock Market News
- Why Is Qualtrics International (XM) Stock Up 29% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.