FILE PHOTO: A smartphone with a displayed Arm logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
NEW YORK (Reuters) -Shares of Arm Holdings, the British chip designer backed by Softbank Group, gained 2.1% to $129.50 on Tuesday as markets braced for increased trading activity following the expiration of the lockup period tied to its blockbuster initial public offering (IPO).
Most market debuts include a lockup period of up to six months in which company insiders and pre-IPO investors are prohibited from selling their shares. This typically limits the amount of shares available for public trading.
