CRWV and CRCL are both making outsized moves after their recent earnings reports
Two tech names have brought the initial public offering (IPO) a lot of good publicity in 2025. Today though, those stocks are cooling off. Has the shine from their debuts fully worn off?
CoreWeave Inc (NASDAQ:CRWV) stock is down 18.6% at $121.04, after the Nvidia (NVDA)-backed artificial intelligence (AI) data center company's wider-than-expected second-quarter losses per share, despite strong revenue. The security is also brushing off four price-target hikes, while BoFA Global Research lowered its price objective to $168 from $185.
On track to snap a four-day win streak, CRWV's dramatic drop actually is testing its 10- and 20-day moving averages. Publicly traded since late March, the equity is up 82.7% in the last three months, even after falling from its June peak.
Options traders are chiming in, with 299,000 calls and 268,000 puts exchanged -- quadruple the amount of puts typically seen at this point for the usual bull target. The August 120 put is the most popular, with new positions being opened there.
Fintech stock Circle Internet Group Inc (NYSE:CRCL) was last seen down 5.7% at $153.58, after a secondary offering of 10 million shares -- 2 million from Circle and 8 million from existing shareholders. Today's drop reverses yesterday's gains after the company's strong second-quarter results. It was the first earnings report since CRCL's early-June IPO, with Stablecoin demand giving revenue a lift.
On the charts, the $153 region has contained pullbacks since the start of this month, though the shares are still down 25% in the last 30 days.
