Arm Extends Blistering Rally as Stock Nearly Triples Since IPO
- The stock soared 29% on Monday on elevated trading volume
- Chip designer’s market value has climbed above $150 billion
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Arm Holdings Plc soared again on Monday, extending a three-day rally that has driven its value up almost 100%, after a blockbuster earnings report last week showed artificial intelligence spending is bolstering sales.
The chip designer’s shares rose 29% on Monday to close at a record on volume that was more than 10 times the average over the past three months. The advance pushed the stock’s gains to more than 90% in the three trading sessions since Arm’s results were released after markets closed on Feb. 7.