Key Highlights

  • ARMA fell 14.71% to $7.30 on the October 23 screen, implying an Arm decline of roughly 7.36% (calculated).
  • Arm Holdings closed down 7.28% at $210.10 on Thursday, October 22, its third drop of more than 6% since October 14.
  • Arm shares are down 11.73% from the October 14 close of $238.01 (calculated).
  • Arm's fiscal 2026 revenue was $4.92 billion, up 22.79%, with net income of $904 million.
  • ARMA has a 0.45% expense ratio and began trading on June 30, 2026.

ARMA ETF Move: Why Did a 7.28% Fall in Arm Become a 14.71% Fund Loss?

Corgi ARM 2x Daily ETF (CBOE:ARMA) fell 14.71% to $7.30 on the October 23, 2026 screen, a decline that matches Thursday's session in the stock. Arm Holdings (NASDAQ:ARM) closed down 7.28% at $210.10 on October 22, and doubling that gives 14.56% (calculated). The small gap comes from fees and pricing differences.

Dividing the fund's move by two implies an Arm decline of roughly 7.36% (calculated). ARM edged higher early on Friday, up about 1.33% at $212.90, so the recovery has been modest.

Arm Holdings Shares: What Has Driven the 11.73% Slide Since October 14?

Arm closed at $238.01 on October 14, then fell 6.94% on October 16, 3.07% on October 20 and 7.28% on October 22, with small gains on October 15, 19 and 21. On October 14 a jury found for Arm on four claims in its dispute with Qualcomm (NASDAQ:QCOM) and awarded Qualcomm one dollar on two claims. No Arm-specific announcement explains Thursday's drop.

Chip-linked shares were under pressure that day: Lam Research (NASDAQ:LRCX) closed down 11.76% and Applied Materials (NASDAQ:AMAT) down 8.16% after Lam's outlook and renewed worries about AI spending. Earlier in October Arm had risen about 5% on its role in an Nvidia (NASDAQ:NVDA) AI platform, which shows how quickly sentiment around the stock has turned.

Arm's market value was about $227.39 billion on Friday, and fiscal 2026 revenue was $4.92 billion, up 22.79%, with net income of $904 million. Trailing twelve-month revenue is $5.16 billion and earnings per share are $0.98, which puts market value at about 44 times trailing revenue (calculated).

Corgi Fund Structure: What Does a Small 2x Fund With a 0.45% Fee Look Like?

ARMA is issued by Corgi Funds, launched on June 30, 2026, and gets 2x exposure to Arm's price through derivatives such as swaps. Its expense ratio of 0.45% is low for the category, but assets were well under $1 million, which can mean wider spreads than larger funds.

The daily reset matters after volatile weeks. Compounding Arm's six sessions from October 15 to October 22 at 2x gives about minus 23.18% for a hypothetical holder before fees, against minus 11.73% for the stock (calculated). That is more than double the stock's decline, because losses on a lower base are amplified again each day.

Arm's Next Report: What Could Move the Stock After November 4?

Arm reports fiscal second-quarter results on November 4 after the close, the next company-specific event for the stock. Further developments in the Qualcomm litigation and the next moves in semiconductor equipment shares are the other items on the radar.

ARMA resets daily and is not designed to track twice Arm's return over longer periods. This article is informational only.