The stock is on track for its best day in over two months
CoreWeave Inc (NASDAQ:CRWV) is buzzing today, after the cloud-computing name announced it will join the U.S. Department of Energy's Genesis Mission, which will use AI and supercomputing to advance discovery science, increase national security, and drive energy innovation. The stock was last seen up 9.8% to trade at $74.33, after Citigroup also resumed coverage with a "buy" rating and $135 price target.
CRWV is today pacing for its biggest single-day percentage pop since Sept. 30, extending a bounce off its lowest level since May after a familiar floor around $60 contained last two pullbacks. Over the last six months, CoreWeave stock has shed a substantial 59.9%.
The brokerage bunch was split coming into today, with 15 calling the stock a "buy" or better, while 14 rating it "hold" or worse. Meanwhile, short interest added 32.9% over last month. The 34.83 million shares sold short now make up a substantial 11.1% of the equity's available float. While those bearish bettors aren't likely underwater yet, its a good sign that CRWV gained 4.3% while those shorts piled on in the last 30 days.
Options bulls are targeting CRWV today, with 53,000 calls exchanged in just the first half hour of trading -- triple the intraday average volume and more than double the amount of puts. The most active contract by far is the December 80 call, which expires after today's close.