MW CoreWeave's stock gets jeered in its Wall Street debut
Shares of CoreWeave Inc. were effectively heckled in their Wall Street debut Friday, as a weak pricing of the AI cloud services company's initial public offering and a broad-market selloff combined to help sour sentiment.
The stock's $(CRWV)$ first trade was at $39 at 1:14 p.m. Eastern for 4.44 million shares.
That was 2.5% below the $40 IPO price, and a far cry from the pricing range of $47 to $55 a share that CoreWeave, which is backed by Nvidia Corp. $(NVDA)$, had estimated just a week ago.
The timing of CoreWeave's debut wasn't great, as it came on a day that the S&P 500 index SPX was sinking 2% and the Renaissance IPO ETF IPO was shedding 2.9%.
At the opening price, the company was being valued at about $18.5 billion.
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-Tomi Kilgore
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March 28, 2025 13:17 ET (17:17 GMT)
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