Arm Holdings made its public debut yesterday, IPOed at $51 per share, valuing the company at $54.5B. The stock surged to ~$60 and eventually closed at $63.59 yesterday. Today ARM 0.00%↑ stock was mostly able to hold the ground but it eventually dropped 4.47% today and closed at $60.75 or $62.239B of market cap. Overall, it was a solid IPO. The stock didn’t crash and Softbank investors can breathe a sigh of relief as Softbank bought shares from Vision fund investors at a $64B valuation. The float for ARM 0.00%↑ stock is small so it’s hard to say where the stock will trade at once the IPO lockup period expires. But at the very least, it didn’t flop like the better.com IPO, for which Softbank is also a major investor. Instacart will make its public debut next week and its performance will help set the tone for the IPOs in the coming months. Hopefully, it is as successful as the ARM IPO, if not better.
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