Key Takeaways
- Arm Holdings is being added to the Nasdaq-100 Index before the start of trading on June 24.
- The British chip and software designer is replacing Sirius XM, and will also be included in several other Nasdaq indexes.
- Arm started trading on the Nasdaq last September after the biggest U.S. initial public offering (IPO) in two years.
Arm Holdings (ARM) could get a boost after the Nasdaq announced that the British semiconductor and software design company would be added to the Nasdaq-100 Index.
The exchange said the move would come ahead of trading on Monday, June 24. Arm will replace satellite programming provider Sirius XM Holdings (SIRI).
Nasdaq noted that along with the Nasdaq-100, Arm would also be included in the Nasdaq-100 Equal Weighted Index, the Nasdaq-100 Tech Sector Index, the Nasdaq-100 Technology Sector Market-Cap Weighted Index, and the Nasdaq-100 Technology Sector Adjusted Market-Cap Weighted Index.
Arm Debuted on Nasdaq Last September After Massive IPO
The decision came nine months after Arm first began trading following the biggest initial public offering (IPO) in the U.S. since 2021.
After initially rising as much as 6% Friday on the news, American depositary receipts (ADRs) of Arm Holdings reversed course and were 1.4% lower at $155.81 as of 1 p.m. ET. Still, they have soared about 110% so far this year.