SoftBank’s chip designer Arm extends gains after $65 billion Nasdaq debut

"The huge enthusiasm around trading suggests there is very much still appetite for high-growth names, and there's growing hope that the IPO market will now become more buoyant next year," said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown. Analysts expect more trading volatility for the Arm stock if it draws more interest from AI-focused retail investors and also due to its limited public flat as SoftBank continues to own about 90% stake. Arm told potential investors in New York when it began marketing the IPO that the cloud computing market could be an area of growth for it.