Week of 09/11-09/15 SoftBank's ARM IPO, Stock Market Finishes Lower

Stocks ended up lower on Friday, wiping out the market gains from Thursday. This has been volatile week ahead on the Fed meeting next week. All three indexes closed lower on Friday, but the Dow managed to have a positive week while the S&P 500 and the Nasdaq suffered their second weekly losses. Arm IPO was the focus for the week as its the largest IPO of the year and debuted on Thursday. Investors, executives, bankers, founders, retail traders, and institutional traders were all watching closely on how the stock performed once it became public. The stock opened at $56.10, which is higher that its IPO price of $51, and shares rapidly surged 25% and closed at $63.59 by the closing bell. ARM, which is owned by SoftBank, is a chip designer who sells their core processor designs to the largest tech companies in the world such as Apple, Nvidia, Google. and Samsung. Arm has a large market in the smartphone sector, but recently announced their plans to integrate their designs to artificial intelligence as the demand continues to grow. Many investors are excited about Arm's performance on the next ten years rather than their recent IPO stock price action, as the company is focused in A.I. and advanced technologies for the future.