Institutions and analysts across the board are bullish, but the pre-market price hasn’t picked up yet. Let’s see if there’s a delay. At the current range, it’s definitely worth starting to build a spot position.$CRWVB
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CoreWeave $CRWVB fell to an intraday low of $59.51 yesterday, down 9.5%, before reversing course to close up 5.94% at $69.69. It fell about 5% again in premarket trading today, returning to around $65.80.
Yesterday’s rebound was driven by comments from Jensen Huang and a “buying opportunity” call from Deutsche Bank. But that same day, yields on its U.S. dollar bonds maturing in 2031 briefly topped 16%, the price of its unsecured bonds due in 2032 fell below 80 cents on the dollar, and its CDS spread surged past 1,000 basis points to a record high. The stock recovered quickly; credit markets did not.
Three factors are weighing on it in premarket trading today: lingering concerns about AI financing; Morningstar’s cut to its price target from $115 to $108, along with its view that newer cloud operators will be forced to borrow at higher costs; and the fact that the dilution from its previously announced share offering and convertible financing plans has yet to be fully accounted for.
Other stocks in the sector are not falling in tandem. Nebius $NBISB is down much less in premarket trading. It has very little net debt and raises funds through share offerings and convertible bonds.
The pressure is concentrated on the high-leverage financing route.
The key variable is on the bond side, not the stock side. After hotter-than-expected September CPI, the most interest-rate-sensitive AI stocks were the first to be repriced.
The above is a summary of public information and does not constitute investment advice.
#CoreWeave #AI算力 #BStocks
Yesterday’s rebound was driven by comments from Jensen Huang and a “buying opportunity” call from Deutsche Bank. But that same day, yields on its U.S. dollar bonds maturing in 2031 briefly topped 16%, the price of its unsecured bonds due in 2032 fell below 80 cents on the dollar, and its CDS spread surged past 1,000 basis points to a record high. The stock recovered quickly; credit markets did not.
Three factors are weighing on it in premarket trading today: lingering concerns about AI financing; Morningstar’s cut to its price target from $115 to $108, along with its view that newer cloud operators will be forced to borrow at higher costs; and the fact that the dilution from its previously announced share offering and convertible financing plans has yet to be fully accounted for.
Other stocks in the sector are not falling in tandem. Nebius $NBISB is down much less in premarket trading. It has very little net debt and raises funds through share offerings and convertible bonds.
The pressure is concentrated on the high-leverage financing route.
The key variable is on the bond side, not the stock side. After hotter-than-expected September CPI, the most interest-rate-sensitive AI stocks were the first to be repriced.
The above is a summary of public information and does not constitute investment advice.
#CoreWeave #AI算力 #BStocks
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