Arm's second trading day is more subdued, but valuation still tops $60 billion
Publishing timestamp: 2023-09-15 12:08:31
Summary
Arm Holdings' stock price jumped 6% at market open after its IPO, but gains cooled off on the second day of trading. The company is trading at a premium to chip giant Nvidia, but some analysts have concerns about valuation. SoftBank, which acquired Arm in 2016, still holds 90% ownership and has faced criticism for its investment strategy. Despite concerns, there was high demand for Arm's shares, and the company is looking to diversify its business into new areas like artificial intelligence.
Sentiment: MIXED
Tickers: ARM?QSEARCHTERM=ARM, NVDA, 9984.T-JP, AAPL,
Keywords: pre-markets, nvidia corp, arm holdings plc, internet, softbank group corp, apple inc, business news, technology, markets, united states,
Source: https://www.cnbc.com/2023/09/15/arm-shares-second-day-of-trade.html