Shares of Arm Holdings (NASDAQ: ARM) were among the losers last month as concerns about the stock's valuation seemed to overshadow the broader tailwind in artificial intelligence (AI).

While there was relatively little news on the stock, Arm missed the tailwinds that carried peers like Nvidia and Super Micro Computer higher last month. Arm stock finished the month down 11%, according to data from S&P Global Market Intelligence, as the lockup following its initial public offering (IPO) expired, and its rebound on Nvidia's developer conference gave way to a sell-off at the end of the month.

You can see the stock's roller coaster performance in the chart below.

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Source Fool.com