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The company, which develops and licences semiconductor intellectual property to tech giants including Apple, was set to erase more than $4 billion from its market value.
Arm Shares: With short sellers looking to profit from the stock, it closed at $55.17 after touching a high of $69 on Friday. The chip designer, in which Softbank holds a roughly 90% stake, closed at $63.59 on Thursday, which was almost 25% higher than its IPO price of $51.
Investors who want to short the shares of Arm Holdings may have to wait before the stock becomes available for shorting. Short sellers may have to wait until the newly-minted shares are available to borrow for shorting. Brokers typically wait at least a day after an IPO to give a locate on the shares.
Retail traders are likely to flock to the options of Arm Holdings - some of whose chips have artificial intelligence (AI) applications - due to the buzz generated around the IPO and general investor enthusiasm related to the theme of AI