Tesla falls as first-quarter deliveries widely miss estimates, Nvidia declines after ending a five-session losing streak, and Trump Media drops after a filing seeks to allow a trust headed by President Donald Trump to sell around $2.
CoreWeave (NASDAQ: CRWV) stock has had a bumpy start after it hit the public markets last week. Its initial public offering (IPO) wasn't well received on Friday, and the stock plunged in its first full day of trading yesterday.
Nvidia (NVDA) stock declined over 3% in premarket trading on Monday, closing the first quarter on a sour note. Investor sentiment weakened amid
CoreWeave's stock plunged nearly 10% on Monday, dropping below its IPO price, raising concerns about AI-focused IPOs in a volatile market.
One analyst says investors seem to be taking issue with CoreWeave specifically, which he views as “nothing more than a highly leveraged, off-balance-sheet arrangement for Nvidia.”
CoreWeave rents out access to Nvidia graphics processing units to other large tech and AI companies including Meta, IBM and Cohere.
Analysts break down initial thoughts on the CoreWeave IPO, which priced below an anticipated range after its IPO.