- Arm Holdings gained 24.7% on Thursday debut.
- ARM stock sells off Friday after initial rally.
- Higher Oil prices are affecting market sentiment as inflation indicators rise this week.
- United Auto Workers initiates strikes at Ford, GM and Stellantis factories.
- Taiwan Semiconductor tells suppliers to delay equipment orders.
Arm Holdings (ARM) stock is being hit by profit-taking on Friday. After spiking 24.7% from its IPO price on Thursday, ARM stock rose to $69 following the opening bell on Friday but since then has fallen to the lower $60s. The NASDAQ Composite, meanwhile, is down almost 2% at the time of writing.
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