ARM Stock Price Forecast — Here’s Why ARM IPO Matters
The stock price of ARM (NASDAQ: AMR) soared on its first trading day. When the stock first appeared on the Nasdaq, it immediately skyrocketed by 25%. The IPO market has been ailing for the previous 18 months, but the successful ARM IPO seems to be a breath of fresh air.
After a strong start to the day on Friday, shares of the British chipmaker are retreating. The stock is currently trading 0.5% higher than its previous close. During the first two hours of trade on Friday, the Nasdaq 100 index dropped by 243 points, indicating heightened selling pressure.
Consumers are interested in ARM IPO
The Japanese investment behemoth Softbank has its largest single holding in ARM Holdings plc. The British semiconductor and software design firm had a $54.5 billion market cap after its IPO. It was the first IPO in a while to garner significant interest from the general public.
ARM shares opened at $51 on the Nasdaq, the world’s second-largest stock exchange. Immediately upon its IPO, the stock jumped 25%, indicating strong demand from investors. This demonstrates, despite high interest rates in the West, a growing demand for reputable IPOs.
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ARM Stock Price Forecast
Given the lack of a price history, technical analysis of NASDAQ: ARM is now extremely challenging. On Friday, the stock retested its premarket low of $62.8 after a sharp increase in the early going. The bulls, however, quickly responded, and the price is now above $64.
The stock price forecast for ARM is relatively optimistic due to the company’s high demand. Equity prices will remain relatively stable next week due to the FOMC meeting and the macroeconomic outlook. According to the accompanying graph, bulls have been purchasing all drops in the shorter time range.
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