Arm's shares soar as lockup ends
 

Trading frenzy kicks off

British chip whiz Arm, backed by the mighty Softbank, saw its shares jump 2.1 per cent to a nifty €118.81 after the lockup period from its mega IPO has just ended, and the market's buzzing like a beehive smeared in a jam.

.Most big market debuts come with a lockup period—up to six months during which the bigwigs and early backers can't sell their shares. It's like keeping the sweets away from the kids, limiting how many shares are available for the public to snap up.

Since Arm's big debut in September, only 9.5 per cent of its shares were up for grabs. But with the lockup lifted, it's open season for investors to start cashing in. And get this – Softbank's sitting on a colossal 90 per cent stake, a whopping 930 million shares!

Tuesday's trading was hot, with about 18.1 million shares changing hands. That's a bit shy of the 25-day average of 28.5 million, but with so few shares out there, prices are on a rollercoaster ride.

https://fudzilla.com/news/58622-arm-...as-lockup-ends