Why CoreWeave Stock Rocketed Higher Today
CoreWeave (NASDAQ: CRWV) stock has had a bumpy start after it hit the public markets last week. Its initial public offering (IPO) wasn't well received on Friday, and the stock plunged in its first full day of trading yesterday.Shares of the cloud infrastructure company are soaring today, however. The stock was up by 21.5% as of 1:45 p.m. ET, making it comfortably above its $40 IPO offering price. One reason for the pivot likely came thanks to strong quarterly results from artificial intelligence (AI) software infrastructure provider Progress last night. Another has more to do with CoreWeave itself.Continue reading
CoreWeave (NASDAQ: CRWV) stock has had a bumpy start after it hit the public markets last week. Its initial public offering (IPO) wasn't well received on Friday, and the stock plunged in its first full day of trading yesterday.
Shares of the cloud infrastructure company are soaring today, however. The stock was up by 21.5% as of 1:45 p.m. ET, making it comfortably above its $40 IPO offering price. One reason for the pivot likely came thanks to strong quarterly results from artificial intelligence (AI) software infrastructure provider Progress last night. Another has more to do with CoreWeave itself.
