Why Arm Holdings Stock Sank Again Today
Arm Holdings (NASDAQ: ARM) stock got hit with another round of sell-offs Friday. The chip company's share price ended the day down 6.6%, according to data from S&P Global Market Intelligence.
Arm stock is losing ground today due to macroeconomic concerns, analyst coverage, and a particularly bad second-quarter report from another big player in the chip space. Bearish macroeconomic news and new skepticism about the artificial intelligence (AI) space also weighed on the share price.
Today's pullback followed sell-offs earlier in the week after Arm's quarterly results and forward guidance failed to match higher-end targets on Wall Street. The company's share price has been highly volatile lately and now trades down roughly 39% from the peak it hit earlier this year. On the other hand, the stock is still up roughly 51% across 2024's trading.
Source Fool.com
