Arm Holdings Shares Surge 4% to $174, Market Cap Hits $183 Billion at 52-Week High

Jul 5, 2024, 02:01 PM

Arm Holdings (ARM) shares surged by 4% to reach a new high of $174, resulting in a current market capitalization of $183 billion. This marks a significant increase since SoftBank acquired ARM in 2016 for $32 billion. SoftBank still retains a 90% ownership stake in the company. The stock's breakout to fresh highs includes clearing the $180 mark, driven by recent bullish activity, such as the purchase of August 2nd $170 calls earlier in the week. ARM is now listed at its 52-week and all-time high.