CoreWeave (NASDAQ: CRWV) stock got hit with a double-digit sell-off over the last week of trading. The company’s share price fell 13.5% from its level at the previous week’s market close.
CoreWeave saw a valuation pullback due to some hesitance about growth-dependent valuations for artificial intelligence (AI) companies. The stock also saw sell-offs in conjunction with news that the company is on track to acquire another player in the AI space. CoreWeave is still up roughly 123% from its price at market close on the day of its initial public offering earlier this year, but it’s also down 51.5% from its high.
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