$Astera Labs, Inc.(ALAB)$ , AI concept company, surged 72% and closed at $62.03 during its trading debut.The company aims to enhance chip efficiency by integrating with other data center components and has secured deals with major AI chipmakers like $NVIDIA Corp(NVDA)$ and $Advanced Micro Devices(AMD)$. With an IPO price of $36, Astera's price-sales ratio stands at approximately 47 times.How will another AI concept stock $Reddit(RDDT)$ perform today?Reddit prices its initial public offering at $34 and will start trading tonight. Reddit warned in its prospectus that trading in its shares could be particularly volatile.Wall
ALAB Pullback? Time to Add or Exit?
Astera Labs rose to $95 but then pulled back with the broader market. ---------------- Is a good time to add or exit? Backed up with big guys, will the chip company repeat trend of ARM? What's your target price for Astera Labs?
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