Why Arm Holdings Stock Popped Higher on Monday
A glowing analyst note ignited a mini-rally in chipmaker Arm Holdings (NASDAQ: ARM) on Monday. Taking the bullish tone of the report to heart, many investors loaded up on the stock, pushing it to a nearly 2% price increase on the day. That was impressive when matched against the 0.3% slump of the bellwether S&P 500.
Early that morning, Seaport Global Securities' Jay Goldberg initiated coverage of Arm Holdings with an unambiguous buy recommendation, at a price target of $150 per share.
Image source: Getty Images.
Source Fool.com
