Is CoreWeave Stock in Trouble?
CoreWeave (NASDAQ: CRWV) rents out computing power for companies, giving them access to the latest chips from Nvidia. Thus, it indirectly becomes a proxy for investing in artificial intelligence (AI). If the market is bullish on AI-related growth, that can be a great catalyst for CoreWeave's stock, as it can benefit from that excitement.
But lately, there doesn't appear to be as much excitement as there has been in the past. In just the past month, the stock price has declined by more than 40%. And last week, it closed at a price of $71.65 -- nowhere near its 52-week high of $187.00. Investors appear to be more concerned about AI spending these days. Does that spell trouble for CoreWeave, and could the stock be heading even lower?
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Source Fool.com
