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.