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Why Arm Holdings Stock Plunged Today

TheMotleyFool

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Why Arm Holdings Stock Plunged Today: https://g.foolcdn.com/editorial/images/773613/economic-crisis-stock-chart-falling-down-business-global-money-bankruptcy.jpg

Shares of Arm Holdings (NASDAQ: ARM) were taking a dive today, getting hit for the third day in a row on disappointing news on the artificial intelligence (AI) front.

After ASML and Taiwan Semiconductor Manufacturing both fell on their earnings reports on Wednesday and Thursday, dragging down Arm and other AI stocks, today Super Micro Computer (NASDAQ: SMCI) shares plunged after one analyst observed that the company failed to pre-report revenue, which had become a pattern for it in earlier reports.

As of 3:18 p.m. ET, shares of Arm were down 14.5%.

Source Fool.com