Market News

ARM.O- Friday IPO open @ $56.10 , close @ $63.59 🚀📈

Arm Holdings (ARM.O) went public on the NASDAQ this morning, with a bang I might add. Already up 10% at open, the stock soared nearly 25% to $63.59….talk about a hot debut. Wow.

What is Arm? Arm is a world leader in CPU technology. What the hell does that mean you might ask? Let me put it this way: Imagine you have a set of Legos and want to build a rocket ship. Well, NIVDIA in this case makes the Legos, and Arm sells them the instructions. Essentially, Arm creates the language that computers can understand. Pretty important stuff.

Pump the breaks a bit. On average, 20% of companies that go public wind up unprofitable. But, it’s worth mentioning that NIVDIA is a major customer of Arm. 😲 And, in terms of the IPO market, the Street sees this as a possible sign of hungry investors back in an otherwise dead market.

Notable upcoming IPOs: 

Instacart 🥕 

Birkenstock 🩴

A Blow to the NYSE

Doordash (DASH) will officially move over to trade on the NASDAQ starting September 27th.

“We are delighted to join a community of leading technology companies with our transfer to the NASDAQ.” - Doordash CFO Ravi Inukonda

The New York Stock Exchange has tried to keep and secure more tech company listings but hasn’t achieved as much success compared to the NASDAQ.

Why and what does this mean? The NYSE still uses human traders on the trading floor and functions as an auction market, meaning the highest bidder wins, but they consider the lowest selling price. The NASDAQ is a dealer market where buying and selling happens within seconds, hence why it is so volatile. Joining the NASDAQ, in theory, should allow for DASH to be traded more frequently. The NASDAQ is known for listing innovative tech companies, so DASH is aiming to draw in more investor interest.

Quote of the Day

“One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.” - William Feather

The Lighter Side

AI is changing the world. Not only is AI changing the way we research and write, AI technology has bled into the healthcare industry. Researchers in London have developed a system through AI with the potential to identify eye diseases and predict heart attacks, strokes, and even Parkinson’s disease.

Ever since the introduction of ChatGPT just 10 short months ago, AI has taken the world by storm. With governments recognizing its importance to the future of the world, it’s only a matter of time before we see advancements in all aspects of life. Even if robots do eventually take over, it’s exciting to see the possibilities this technology opens.