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Arm Holdings PLC – ADR (NASDAQ:ARM) shares reached a record $194.68 on Wednesday.
This rally follows a strategic leadership shift at its parent company, SoftBank Group Corp. (OTC:SFTBY).
The Nasdaq is up 1.33% while the S&P 500 has gained 0.80%.
• ARM Holdings stock is at critical resistance. Why did ARM hit a new high?
Leadership Expansion For Rene Haas
SoftBank announced on Tuesday, that Arm CEO Rene Haas will take a larger role. Haas is now the CEO of SoftBank Group International (SBGI). He will remain the top executive at Arm.
SBGI serves as an operating platform for SoftBank’s international subsidiaries. In this role, Haas will “support coordination across companies in the SBGI …
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