CoreWeave (CRWV) Stock Bounces 6% After 15% Crash, But Debt Markets Still Flash Red

TLDR CoreWeave (CRWV) stock closed up 6% at $69.69 on Thursday after Wednesday’s 15.5% drop. Its five-year credit default swap spread hit about 1,038 basis points, above the 1,000 level seen as distress. The 2031 bond yield reached 15.78%, and put option volume hit a record high on Wednesday. CEO Mike Intrator says the $100 billion backlog covers all debt obligations. Deutsche Bank called the sell-off a buying opportunity, while Gartner warned 80% of neoclouds could shut down by 2030. CoreWeave (CRWV) stock closed up 6% at $69.69 on Thursday. That followed a 15.5% drop on Wednesday.

Source: CoinCentral