Why Did ARM, SLS, EBAY Stocks Surge To 52-Week Highs?

• Arm Holdings shares climbed for a third straight session, surging to a 52-week high of $259.44 on Wednesday as investors turned bullish on sector-wide AI tailwinds.
• Sellas surged to a 52-week high of $9.10 as investors await the key Phase 3 REGAL trial readout for its Galinpepimut-S drug. 
• Shares of eBay climbed to a 52-week high of $119.31in Wednesday’s trading session after GameStop increased its stake in the company.

Arm Holdings Plc. (ARM), Sellas Life Sciences Group Inc. (SLS) and eBay Inc. (EBAY) climbed to fresh 52-week highs on Wednesday.

Arm Holdings surged on fresh analyst upgrades tied to AI-driven CPU demand, Sellas jumped after updating investors on its late-stage leukemia drug trial progress, and eBay climbed after GameStop increased its stake in the company.

ARM shares surged more than 15% while SLS rallied by over 18% and EBAY climbed up 4% at close.

ARM Surges On Wall Street Optimism

Arm Holdings shares climbed for a third straight session, surging to a 52-week high of $259.44 on Wednesday as investors turned bullish on sector-wide AI tailwinds. The rally was bolstered further by the anticipation of AI darling Nvidia’s results.

Earlier in the week, Bernstein initiated coverage on the company with an ‘Outperform’ rating and a $300 price target, implying substantial upside from recent levels. Analyst David Dai said the company is the "structural beneficiary of the renaissance" of CPUs for agentic AI. The GPU-CPU ratio is shifting from the current 8:1 to 2:1 or 1:1, with the CPU addressable market quadrupling to $137B by 2030, the analyst said, as per TheFly.

Bernstein also said that it believes Arm "stands out in server CPUs given its unparalleled power efficiency."

ARM stock has rallied more than 123% this year. Retail sentiment on the company improved to ‘neutral’ from ‘bearish’ territory amid the surge.

Sellas Climbs On Leukemia Drug Trial Anticipation

Sellas is on track to climb for a fourth consecutive week after it surged to a 52-week high of $9.10 as investors await the key Phase 3 REGAL trial readout for its Galinpepimut-S drug in the treatment of acute myeloid leukemia (AML).

CEO Angelos Stergiou said on Wednesday that there is “a very good chance” the drug could replicate or even outperform earlier survival data.

The trial is evaluating GPS against existing treatment options in a randomized study designed to determine whether the therapy can improve overall survival, with Sellas targeting a median survival of roughly 12.6 months versus 8.1 months for standard treatment.

Retail investors are ‘extremely bullish’ on SLS stock, even as the company’s shares have more than doubled so far in 2026.

EBAY Gains From GameStop Stake

Shares of eBay are also on track for a fourth week in the green. The e-commerce platform climbed to a 52-week high of $119.31in Wednesday’s trading session after GameStop increased its stake in the company to about 6.5%.

According to a filing with the U.S. Securities and Exchange Commission, the video game company now directly owns 25,000 shares of eBay and has economic exposure to more than 29 million additional shares through put/call option structures.

Combined, the exposure amounts to roughly 6.55% of eBay’s outstanding common stock, up from the previously held 5%, based on the company’s share count reported in April. The move comes shortly after GameStop’s previously proposed acquisition of eBay in a deal valued at approximately $56 billion.

EBAY stock has risen more than 36% this year, but retail sentiment on Stocktwits was in the ‘bearish’ territory.

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