Editor
Arm’s Nasdaq debut on Thursday looks good for SoftBank, which just spun the company out after acquiring it in 2016. But it’s a head-scratcher for Wall Street.
The UK-based chip design company saw its stock jump 25% to $63.59 after its IPO, lifting the company’s fully diluted market cap to almost $68 billion.
That’s a wildly high number for a semiconductor company that generated $400 million in profit in the past four quarters. It results in a…
