Market Chatter: CoreWeave CEO Says Share Drop Due to Market Acting 'Irrationally'

MT Newswires Live10-15

CoreWeave (CRWV) Chief Executive Mike Intrator said that a plunge in the company's stock and bond prices is due to the market acting "irrationally," Bloomberg reported Wednesday, citing a memo it saw.

The company's deal backlog is large enough to more than support its debt obligations, Intrator reportedly said in the memo.

CoreWeave shares were down 16% in Wednesday trading.

CoreWeave didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 64.48, Change: -13.33, Percent Change: -17.13

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