Bloodbath on the Street: These 10 Stocks Crashed Hard

5. CoreWeave, Inc. (NASDAQ:CRWV)

CoreWeave extended its losing streak to a third straight day on Wednesday, dropping 7.6 percent to close at $159.5 apiece as investors soured on an investment firm’s conservative rating for its stock.

HC Wainwright initiated coverage on CoreWeave, Inc.’s (CRWV) stock with a “neutral” stance, saying that its shares have outpaced fundamentals since its initial public offering.

According to HC Wainwright, CoreWeave, Inc.’s (NASDAQ:CRWV) jump to $173 from its $40 IPO boosted its market capitalization to $83 billion, which it deemed “stretched” given heavy spending plans and looming financial needs.

However, it noted that CoreWeave, Inc.’s (NASDAQ:CRWV) focus on high-performance, graphics chip-based infrastructure puts it at the center of a fast-growing market.

HC Wainwright said it expects the company to shell out between $20 billion and $23 billion this year to meet customer obligations.