HomeTechnologyArm Stock Surges After Nasdaq Debut

Arm Stock Surges After Nasdaq Debut

Shares in British chipmaker Arm Inc. surged after it made its stock market debut on Thursday afternoon with shares priced at $56.10. Arm’s stocks jumped by 10% as trading commenced and were 20% higher at over $61 after 30 minutes of trading. The stock closed the day at around 25% higher than its opening price of $51.

While the company’s valuation was $54.5 billion as it debuted on the Nasdaq Composite Index, Arm’s valuation was pushed above $60 billion at the market’s close. This is the highest-profile IPO that the Nasdaq has experienced since 2021’s IPO boom. In 2022, the index experienced a significant slump.

“This is a great first step to reopening what has been sort of an 18-month drought of IPOs in the US tech market,” Blueshirt Group managing director Mark Roberts commented.

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