Why CoreWeave Stock Gained 18% in August
Yahoo Finance ·
Shares of CoreWeave ( CRWV -3.58% ) , the volatile neocloud stock, notched an 18% gain in August, according to data from S&P Global Market Intelligence . During the month, CoreWeave benefited from improving sentiment toward AI stocks as well as a better-than-expected second-quarter earnings report. Generally strong results from hyperscalers and other AI stocks helped lift the sector. As you can see from the chart below, the stock gained early in the month, and then popped the following week on its earnings report before giving back some of those gains. CoreWeave kicked off the month with some good news, as Piper Sandler initiated coverage on the stock with an overweight rating and a price target of $151, and it said it would expand into Indonesia, building its first data center in the Asia-Pacific region.
DYAX Investor Sentiment
Bullish (Long) 40% · Bearish (Short) 60%
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