CoreWeave IPO
Yesterday’s post included a detailed analysis of CRWV from ZH. This IPO and the possibility of it’s failure could be the seminal event in marking the end of the AI, high tech, MAG 7 bubble. After being downsized significantly from original plans and estimates, it was priced at $40. They might be able to orchestrate at least an initial pop, but if it flops later on today and continues lower next week, it not only could end up being cancelled, but would likely coincide with a major leg down in the stock market, taking out this month’s earlier lows.
When it finally started trading opened at $39. Got as high as $39.90 and now at $38. May never trade at $40 and if it sells off rest of today and early next week could very well end up being cancelled which would be a disaster for the stock market and tech stocks in particular.