CoreWeave (CRWV) stock fell 15% on Wednesday, a day after a chart of its rising borrowing costs gained traction on X.
Bloomberg, citing an internal memo, reports that the AI cloud company’s CEO stated in a memo that the market is acting “irrationally.”
“When you are building a new type of technology company, there will be periods of time when the market misunderstands and acts irrationally,” CEO Mike Intrator wrote to staff. “We are confident in our business model, our customers, the extraordinary quality of our execution, and the relentless discipline around the financial engine we have built.”
Michael B. Kelley | Yahoo Finance