Movement Alert｜Core Scientific Falls 5.11% in Regular Trading, Post-Acquisition Termination Rebound Fades as Computing Power Sector Weakens

Market Focus06-10

On June 10, Core Scientific fell 5.11% in regular trading, trading at $25.575/share, with trading volume of $104 million.

On the news front, the company formally terminated its $9 billion all-stock acquisition agreement with NVIDIA-backed CoreWeave after shareholders voted to reject the proposal. CoreWeave had pursued the deal to secure energy and data center computing resources needed to support its surging demand. The stock staged a brief oversold rebound on June 9 but failed to sustain upward momentum, resuming its downward trajectory.

The termination removes a major near-term valuation re-rating catalyst, intensifying market uncertainty regarding the company's independent growth path. The stock remains significantly below the B.Riley upgraded target price of $33 and the analyst consensus target of $30.12. Within the Application Software sector, computing power-related names also declined broadly, with IREN Ltd down 2.68% and AppLovin down 3.81%, reflecting weak overall sector sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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