CoreWeave stock plunges over 46% since Nasdaq 100 listing, insiders dump $740M shares
AI infrastructure provider CoreWeave's stock has plummeted over 46% since joining the Nasdaq 100 index on June 22, with its market capitalization shedding $18 billion. During this period, company insiders have sold approximately $740 million worth of shares. CEO Mike Intrator alone sold about $85 million in stock between September 15 and September 30. Other executives, including CFO Nitin Agrawal, CRO Jonathan Jones, General Counsel Kristen McVeety, and Co-founder Brannin McBee, also made significant sales. The company's cost to borrow on its 2032 bonds has skyrocketed to 15% annually, and credit default swaps imply roughly a 63% chance of default within five years. As of the end of June, CoreWeave had approximately $52 billion in combined debt and lease obligations, with co-founder Brannin McBee indicating the company is seeking to borrow even more money.
No AI analysis yet. Tap the "AI Analysis" button above to generate one now.
Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
24H Trending
-
1
SK Hynix plunged over 8% on Thursday, impacted by concerns over Federal Reserve interest rate hikes and AI investment funding.
-
2
US says it destroyed a vessel suspected of Iranian command and control in the Gulf of Oman, accusing it of spying on the US Navy.
-
3
Gudea raises $7 million in seed funding, bringing total funding to $15 million, to leverage AI for social media crisis prevention.
-
4
Binance founder CZ retweeted, stating it's amazing that Solana can advertise and set up offices in China, while BNB Chain currently cannot.
-
5
India's Jio Platforms has lowered its valuation to approximately $108 billion ahead of its IPO next week, planning to raise $3.2 billion.
-
6
Prominent analyst Jason Schenker predicts: The Federal Reserve will hold steady in October, and may raise interest rates by 50 basis points in December.
-
7
The Nikkei 225 index fell 3.13% today, now at 65,626.07.
-
8
South Korea's KOSPI index fell 5.11% today, now at 5,701.75.
-
9
South Korea's KOSPI index fell 6.03% today, now at 5,646.66.
-
10
Australian Unemployment Rate Rose to 4.7% in September on Job Losses, Exceeding Expectations
Markets Today
Recommended Reading


