Shares of red-hot U.K. semiconductor design firm Arm Holdings (NASDAQ:ARM) had an impressive IPO, surging more than 25% on opening day. Since peaking at around $68 and change, however, the IPO boom seems to have gone bust in the past few days. The stock is now under $53. Undoubtedly, it’s not hard to imagine that many Arm investors are looking to get a front-row seat to massive gains, the likes of which haven’t been seen since Nvidia (NASDAQ:NVDA).
Given the frenzy surrounding AI-enabling semiconductor companies, Arm stock’s stellar first day on the public markets should come as no surprise. As the market terrain gets rockier going into year’s end, patient investors may just be able to get a better price of admission into the latest hot chip stock.
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