Shares of Arm Holdings and Instacart deepened their recent losses on Friday after analysts gave lukewarm ratings to the two companies that recently held highly anticipated initial public offerings. Arm was last down 1.7% at $51.23. Earlier it dipped as low as $50.35, below the $51 price set in its IPO on Sept. 13.
- Shares of Arm Holdings and Instacart deepened their recent losses on Friday after analysts gave lukewarm ratings to the two companies that recently held highly anticipated initial public offerings.
The weak performances of Arm and Instacart's stocks since their market debuts add to doubts about whether a hoped-for revival in IPOs will materialize after a drought of more than 18 months. In another note, Susquehanna analysts assigned Arm a "neutral" rating and $48 price target, saying the chip designer "appears to be pushing royalty rates to the limit, while also adding lower margin 'subsystems' revenue".
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