Arxis, Inc. (ARXS) saw its stock price soar 35.71% during intraday trading on Thursday, marking a strong debut on the Nasdaq Global Select Market.

The surge follows the successful completion of the company's upsized initial public offering, where it raised $1.13 billion by selling 40.5 million shares at $28 each, the top end of its marketed price range. The offering was met with strong investor demand, with indications prior to the open that the stock would begin trading above its offer price.

Analysts note that defense and aerospace listings like Arxis are attracting significant interest amid ongoing geopolitical tensions, positioning the maker of electronic and mechanical components for aerospace, defense, and medical technology as a timely market entry.