Accelerant Holdings (NYSE: ARX) saw a 12.42% increase in stock price on Friday, closing at $29.79. The company, newly listed on July 24, has already seen a 48% jump from its IPO price of $21 to $31.18. ARX sold $724 million in shares, with 20.28 million new shares and 14.18 million sold by existing stockholders.

ARX will not receive proceeds from existing stockholder shares. Founded in 2018, Accelerant Holdings operates as an insurance marketplace connecting niche sellers with institutional investors. While ARX has investment potential, some AI stocks may offer higher returns with less downside risk. For a cheap AI stock benefiting from Trump tariffs, check out our free report on the best short-term AI stock.

Read more at Yahoo Finance: Accelerant Holdings (ARX) Extends IPO Rally on Strong Investor Confidence