PremiumHSBC Destroys Goldman's CoreWeave Upgrade: "The More It Invests, The More The Value Destruction"; Sees Crash To $39
Goldman's CoreWeave upgrade lasted about one trading session.
Yesterday morning, Goldman's Gabriela Borges, likely having received a tap on the shoulder from either upper management, or Jensen himself, upgraded CoreWeave to Buy (while cutting the price target from $139 to $106), arguing that investors were overestimating the rise in the neocloud's cost of capital and underestimating what it can charge per megawatt. The stock spiked as high as $66 on the news, and then, as we noted in Monday's wrap, the dead-cat bounce was promptly trounced, with the stock giving back the entire upgrade pop and then some, even as Cathie Wood's ARK bought the dip.