Shkreli closed his short position in about a week of starting it.

  • CRWV stock has given up gains after last week’s quarterly results.
  • Hudson River Trading and CoreWeave on Thursday announced a multiyear deal to power new trading research and models using the tech company’s AI computing services.
  • Stocktwits sentiment for CRWV was ‘bearish’ on Friday.

Former hedge fund manager and pharmaceutical executive Martin Shkreli on Thursday said he closed his short position in CoreWeave stock in just over a week.

Shkreli, known as “Pharma Bro” after dramatically hiking the price of a life-saving drug and defending the move, shorted the stock on Aug. 12, shortly after the AI cloud company reported its quarterly results.

He said at the time CoreWeave’s debt burden was too high to generate meaningful free cash flow, while demand for its GPUs could weaken as newer chips, TPUs and custom AI accelerators emerge. Shkreli has since said he closed the short position, according to his comments on X. He did not offer an explanation for rolling back his position. 

Meanwhile, CRWV stock has given up the gains it posted following last week’s quarterly results. Shares had surged 19.2% on Aug 12. They have declined in the last three sessions, cumulatively shedding 16.5%.

CoreWeave’s stock market performance has perplexed traders. Although the company is the dominant neocloud operator in the market, investors are pumping emerging players like Nebius and IREN Ltd, which they believe offer more upside.

CoreWeave’s Recent Catalysts, Q2 Recap

On Thursday, Hudson River Trading and CoreWeave announced a multiyear deal to power new trading research and models using the tech company’s AI computing services. As part of the pact, HRT will become one of the first CoreWeave customers to get wide-scale access to Nvidia Corp.’s newest Vera Rubin AI chips.

CoreWeave’s second-quarter revenue increased 112% to $2.58 billion, surpassing analysts’ estimates of $2.56 billion, according to results issued on Aug. 11. Adjusted loss per share of $1.03 was below the $1.20 per share target.

The company’s sales backlog – or future sales from recurring customers – reached $104 billion, nearly doubling the order book it reported in November.

Subsequently, CoreWeave raised its full-year 2026 guidance. The company expects revenue between $12.4 billion and $13.2 billion, up from its May projection of $12 billion to $13 billion. 

Retail View On CRWW

On Stocktwits, the retail sentiment for CRWV dipped in the past week and was ‘bearish’ as of early Friday. “$CRWV sub 90 is absolutely ridiculous for this,” said a trader.

Another wrote: “CRWV crazy... 7 red daily candles since earnings.... make it make sense! I got a good average, but I could swear this would be $140 by now!”

Year to date, CoreWeave shares are up 25.4%.

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