Why Nebius Group Stock Fell 11% in December
Shares of Nebius Group (NASDAQ: NBIS) were sliding last month even though there was no company-specific news out on the stock.
Instead, AI infrastructure stocks like Nebius fell broadly after Oracle reported disappointing results in its first-quarter earnings report. The results and its guidance cast doubt on the momentum in the "neocloud" sector, which includes stocks like CoreWeave and Nebius. Oracle has also seen demand for its cloud infrastructure skyrocket, and it's now seen as a bellwether in the AI subsector.
Largely because of those headwinds, Nebius finished the month down 11%, according to data from S&P Global Market Intelligence. The chart below shows how the stock moved over the course of the month.
Source Fool.com
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