CoreWeave Stock Falls Again, Down 5% Premarket Amid Debt Stress Despite ARK Buying 381,231 Shares
Photo: The Crypto Basic
CoreWeave (NASDAQ: CRWV) shares fell 4.75% to $66.38 in premarket trading Friday amid continuing concerns over the company’s debt-funded AI infrastructure expansion, despite Cathie Wood’s ARK Invest buying 381,231 shares over the previous two trading sessions. CoreWeave’s 9.625% unsecured notes due in 2032 traded below 80 cents on the dollar on Wednesday, pushing their secondary-market yield above 15%. The bonds recovered to about 81 cents on Thursday, with yields around 14.6%, but remained well below face value. The higher secondary-market yields reflect the bonds’ lower trading prices, not a change in their fixed 9.625% coupon.
Source: The Crypto Basic
