Why Nebius' Stock Crashed This Week
Since the close of trading last Friday, shares of the artificial intelligence data center company Nebius Group (NASDAQ: NBIS) are trading over 21% lower as of 11:30 a.m. ET on Nov. 14. The company reported its third-quarter earnings results earlier this week.
In the third quarter of the year, Nebius generated revenue of roughly $146 million, up 355% year over year. However, adjusted net losses rose 154% year over year to over $100 million. Nebius' strong revenue growth also missed Wall Street forecasts of roughly $155 million.
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Source Fool.com
