{"id":60963,"date":"2023-09-14T12:55:47","date_gmt":"2023-09-14T16:55:47","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/arm-stock-explodes-10-in-first-day-of-trading\/"},"modified":"2023-09-14T12:55:50","modified_gmt":"2023-09-14T16:55:50","slug":"arm-stock-explodes-10-in-first-day-of-trading","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=60963","title":{"rendered":"Arm Stock Explodes 10% In First Day Of Trading"},"content":{"rendered":"<div>\n<h2 class=\"topline-heading\">Topline<\/h2>\n<p>British chip designer Arm<strong> <\/strong>went public Thursday, becoming the largest company to do so in 22 months and enjoying a 10% surge in its share price nearly immediately after its initial public offering went live. <strong> <\/strong><\/p>\n<h2>Key Facts<\/h2>\n<div class=\"key-facts\">\n<div class=\"key-facts-element\">\n<p>Shares of Arm hit $56 within minutes immediately after trading opened shortly after 12 p.m. Eastern time, up about 10% from its initial public offering of $51 per share.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Within 15 minutes, Arm stock soared to $60, a 17% gain.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Opening at a $54.5 billion valuation, Arm\u2019s market capitalization jumped to over $60 billion.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>The tech-heavy Nasdaq composite notched a modest 0.7% gain, in line with the S&amp;P 500.<\/p>\n<\/p><\/div>\n<\/div>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Key Background<\/h2>\n<p>Arm designs, but does not manufacture, chips for technology companies like Nvidia, Alphabet and Apple, generating revenue via licensing and royalty fees. Founded in 1990, the company is headquartered in Cambridge, England. Arm was previously a publicly traded company, going private in 2016 after Japan\u2019s SoftBank acquired the company for $32 billion. SoftBank still has a 90% stake in the firm. Arm\u2019s listing revives a slumping IPO market which just registered its quietest year in over a decade after 2021\u2019s record deluge. Several of the most notable IPOs during the 2020-21 boom have suffered significant stock losses as good times ran out, including an 82% decline for shares of electric vehicle maker Rivian since its blockbuster debut.<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Surprising Fact<\/h2>\n<p>Nvidia actually agreed to buy Arm from SoftBank for $40 billion in September 2020, with Nvidia\u2019s billionaire CEO Jensen Huang touting the proposed entity as \u201cfabulously positioned for the age of AI.\u201d Alas, the companies called off their merger last February following regulatory scrutiny.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">What To Watch For<\/h2>\n<p>How other high-profile IPOs perform in coming weeks. Grocery delivery service Instacart is expected to go live on the Nasdaq on Tuesday at an up to $9.3 billion valuation, while automated marketing firm Klaviyo will start trading on the New York Stock Exchange on Wednesday at an up to $8.4 billion valuation.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><\/h2>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/dereksaul\/2023\/09\/14\/arm-stock-explodes-10-in-first-day-of-ipo\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Topline British chip designer Arm went public Thursday, becoming the largest company to do so in 22 months and enjoying a 10% surge in its share price nearly immediately after its initial public offering went live. Key Facts Shares of Arm hit $56 within minutes immediately after trading opened shortly after 12 p.m. Eastern time, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":60964,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-60963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Arm Stock Explodes 10% In First Day Of Trading | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Topline British chip designer Arm went public Thursday, becoming the largest company to do so in 22 months and enjoying a 10% surge in its share price\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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