Michael M. Santiago/Getty Images
CoreWeave's life as a publicly traded company is off to a rough start.
The cloud computing company Nvidia (NVDA) managed to finish its first day in trading on Friday at the same price as its IPO and higher than when it opened. CoreWeave stock (CRWV), on the other hand, was pushed lower by the market’s decline on Monday morning.
CoreWeave shares were recently down 9%, to less than $37. This is below the $39 opening price at which they began trading last week. Investors’ jitteriness about what could happen with Trump’s tariff policy later this week is likely to have contributed to some of the pullback.
In recent trading, the Nasdaq Composite, which is the leading index, has been weighed down by this unease.
The company’s IPO saw it sell fewer and lower priced shares than originally hoped. One of the investors is ARK Next Generation Internet ETF(ARKW), who announced on Friday it had purchased over 400,000 shares.
“There are a lot of headwinds for macro.” There are headwinds in the AI trade," CEO Mike Intrator said on CNBC Friday. "We definitely had to scale, or right-size, the transaction for where the buy interest was.”
