(MENAFN- Baystreet)
Coca-Cola Posts Mixed earnings Due To Lower Sales Volumes
Restaurant Brands' Earnings Lifted By Strong Tim Hortons Sales
Earnings Boom or Bust: Newell Brands, Ubiquiti, and Take-Two
Watch These
Stocks As Markets March Higher
Tuesday's Trades Previous Articles Subscribe to Get Small Cap News & Alerts
Baystreet Staf - Tuesday, February 13, 2024
Arm Holdings' Stock Rises 99% In Past Five Days
The stock of microchip designer Arm Holdings (ARM) rose 29% on Feb. 12, helping to raise its share price by 99% over the last five trading sessions.
At nearly $150 U.S. per share, Arm's stock is now on the cusp of doubling since the British microchip and semiconductor company announced its latest earnings report on Feb. 7.
Arm's better-than-expected fiscal third-quarter earnings and its burgeoning role in artificial intelligence (A.I.) have sparked a furious rally in its share price.
The stock has nearly tripled since Arm's initial public offering (IPO) last September and now has a market capitalization of $153 billion U.S, nearly as large as rival Intel's (INTC) market cap.
Last week, Arm highlighted soaring A.I. demand for the microchips it designs and added that it is moving into new markets such as cloud-computing and motor vehicles.
Arm's chips are found in nearly every type of smartphone and many personal computers (PCs).
The company makes money off royalty payments.
Over the past week, Arm's daily trading volume has exceeded 100 million shares, or more than 10 times the average for the stock.
Despite the big run higher, Arm's stock could be in for a correction. In March, the 180-day post-IPO lockup period expires, allowing insiders to sell their shares in the company and take profits.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN13022024000212011056ID1107846473
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.