Arm’s IPO Saw the Most Buy Orders on Fidelity, Outpacing Tesla, Nvidia
Sep 15, 2023 - bloomberg.com
Arm Holdings Inc.'s initial public offering (IPO) attracted significant attention from retail traders, with over 20,000 buy orders placed on Fidelity's trading platform. This demand surpassed that for popular retail stocks such as Tesla Inc. and Nvidia Corp. The company's shares were initially priced at $51 each, but opened at $56.10 and closed 25% higher than the IPO price.
The strong interest in Arm's IPO reflects a growing trend among retail traders seeking exposure to the artificial intelligence (AI) sector. The company's successful trading debut marks the largest IPO of 2023, with shares jumping 25% after the offering.
Key takeaways:
Arm Holdings Inc.'s trading debut attracted significant attention from retail traders, with over 20,000 buy orders placed on Fidelity's trading platform.
The demand for Arm's shares outpaced that of retail favorites like Tesla Inc. and Nvidia Corp.
Arm priced its IPO at $51 a share, but the stock opened at $56.10 and surged to close 25% higher than the IPO price.
The company's successful IPO indicates a strong interest from retail traders seeking exposure to the AI trend.
