Semiconductor giant Arm Holdings’ (Arm) recent results were great news for the company’s investors. But they were disastrous for London’s stockmarket. The stock, listed on America’s Nasdaq index, soared by almost 50% after Arm reported sales up 14% year on year and strong demand related to artificial intelligence (AI).
The shares of the Cambridge-based company, once in the FTSE 100 but bought by SoftBank of Japan in 2016 as its institutional investors fled the UK market, had relisted on Nasdaq in September 2023 at $51 a share, valuing
