Within 15 minutes, Arm stock soared to $60, a 17% gain, settling there for much of the afternoon before staging a late gain to $63.59, a near 25% jump on the day.

In trading on Wednesday, shares of Arm Holdings plc (Symbol: ARM) crossed below their 200 day moving average of $106.91, changing hands as low as $106.53 per share.

Shares of Arm Holdings were climbing Monday after one Wall Street analyst counseled investors to buy the stock. Jay Goldberg of Seaport Research Partners initiated coverage of Arm with a Buy ...