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Shares of AI cloud specialist CoreWeave Inc (NASDAQ:CRWV) are trading lower Friday afternoon, continuing a multi-day slide as investors appear to take profits ahead of the company’s upcoming earnings report. Here’s what investors need to know.
What To Know: The decline comes despite a week of bullish announcements. On Wednesday, CoreWeave announced a major partnership with CrowdStrike to power and secure the AI cloud for the “agentic era.”
This news followed the launch of its new AI Object Storage solution and a deal securing Nvidia-backed Poolside as the anchor tenant for its “Project Horizon,” which will utilize 40,000 Nvidia GB300 GPUs.
Thursday’s broader market downturn, sparked by Fed commentary on uncertain rate cuts, seems to have broken the stock’s momentum. Wall Street sentiment remains strong, with analysts at MoffettNathanson forecasting revenue to multiply nearly fivefold by 2028.
Investors are now focused on CoreWeave’s third-quarter earnings, which are scheduled for release after the market closes on Nov. 10. Consensus estimates project a loss of 52 cents per share on $1.28 billion in revenue.
Benzinga Edge Rankings: According to Benzinga Edge stock rankings, CRWV’s price trend is currently negative across short, medium and long-term timeframes.
CRWV Price Action: CoreWeave shares were down 3.68% at $103.00 at the time of publication on Friday, according to Benzinga Pro data.
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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in CoreWeave’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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