- Arm stock soared 24% on its first day of trading following its massive IPO.
- Investors are cheering the debut, though some experts remain hesitant to use Arm to gauge the broader IPO market.
- Sky-high valuations and easy money during the pandemic fizzled out and the IPO market has been in a slump.
Arm’s strong trading debut doesn’t mean the initial public offering market will come roaring back. Experts say it’s mostly a sign of the times and captures investors’ massive hype around tech and artificial intelligence.
Arm closed 24% higher on its first day of trading on Thursday, with investors pushing the stock to $63.59 a share, well above its IPO price of $51.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased