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Why CoreWeave Stock Plummeted Today

TheMotleyFool

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CoreWeave (NASDAQ: CRWV) stock got hit with a big pullback in Thursday's trading. The company's share price fell 9.6% in a session that saw the S 500 (SNPINDEX: ^GSPC) rise 0.3% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) trade essentially flat with the previous day's close.

CoreWeave's valuation took a hit today after an investment firm pivoted away from its bullish position on the stock in new coverage. Despite the pullback, the company's share price is still up roughly 246% from market close on the day of its initial public offering (IPO) in April.

Image source: Getty Images.

Source Fool.com

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