Dear ARM Stock Fans, Mark Your Calendars for June 24


  • Arm (ARM) stock is up on Friday ahead of a June 24 catalyst.
  • That’s when the semiconductor company is joining the Nasdaq 100.
  • This will see it replace Sirius XM (SIRI) on the index.
ARM Stock - Dear ARM Stock Fans, Mark Your Calendars for June 24

Source: Poetra.RH /

Arm (NASDAQ:ARM) stock is preparing for a major catalyst later this month that investors in the U.K. semiconductor company will want to keep an eye on!

This has Arm joining the Nasdaq 100 before markets open on June 24. That has it replacing satellite radio company Sirius XM (NASDAQ:SIRI). The exact reason for this change is unknown, but there are a few things that could be behind it.

First off, Arm does have a much higher market capitalization than Sirius XM. It comes in at more than $160 billion, compared to the latter’s $10 billion market cap. It’s also worth noting that SIRI’s value has fallen to less than 0.1% of the Nasdaq 100’s total market cap.

What This Means for ARM Stock

Joining the Nasdaq 100 is a major win for Arm and investors in the stock. It’s also a morale boost, as it shows the strength of the company. This decision may also trigger more investors to buy the semiconductor company’s shares.

Investors are already excited about the news today with about 9 million shares on the move. That’s close to surpassing the company’s daily average trading volume of roughly 9.5 million shares.

ARM stock is up 2.7% as of Friday morning. The stock is also up 135.4% since the start of the year.

Investors will want to keep reading for more of the most recent stock market stories!

We have all of the hottest stock market news that traders need to know about on Friday! Among that is what has shares of Adobe (NASDAQ:ADBE), Riot Platforms (NASDAQ:RIOT) and Gain Therapeutics (NASDAQ:GANX) stock moving today. All of this information is ready at the following links!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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