CoreWeave Faces Investor Concerns Amid Financial Update
CoreWeave (NASDAQ: CRWV) experienced a decline of over 10% in stock value as of May 12, 2023, following a disappointing second-quarter guidance that fell short of Wall Street expectations. This comes despite reporting solid numbers for the previous quarter, revealing operating costs had more than doubled to $2.2 billion compared to the same period last year.
The company anticipates increased capital expenditures in the upcoming quarter, raising further concerns regarding its balance sheet and margins, as losses are expected to be higher than last year. However, CoreWeave’s backlog is nearing $100 billion, bolstered by partnerships with major tech firms including Meta Platforms and Nvidia.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
