Markets
markets
Luke Kawa

CoreWeave drops as top shareholder takes profit by selling nearly 1.5 million shares

Shares of CoreWeave are getting pummeled on Wednesday after filings showed top shareholder Magnetar Financial did what a lot of major investors in the AI cloud computing giant appear to have been doing: taking profits after the post-IPO lockup period expired.

Magnetar, which owns about 25% of the company through various funds and subsidiaries, sold $91.7 million worth of CoreWeave stock on Friday and an additional $55.4 million on Monday, per filings released on Tuesday evening.

That being said, it’s a drop in the bucket: even after selling nearly 1.5 million shares, Magnetar still holds in excess of 94 million. Board member Jack Cogen, on the other hand, sold 4 million shares on Thursday and Friday.

In late March, Magnetar senior managing partner David Snyderman called CoreWeave “the gold standard now for AI infrastructure” and told Bloomberg that the firm had not used the IPO as an opportunity to reduce its stake.

The Illinois-based asset management firm originally invested in CoreWeave back in 2021 via a convertible note, and continued to accumulate a position in the AI cloud computing company through various funding rounds.

More Markets

See all Markets
J. Edward Moreno
2h
Tilray rises after reporting earnings, revenue beat

Tilray’s biggest areas of revenue growth have been its alcohol business and its international market.

PORTUGAL-HEALTH-MEDICINE-PHARMACEUTICAL-DRUGS-CANNABIS
Tasha Matsumoto
2h
The S&P 500 finishes flat but tech weighs down the Nasdaq 100

Investors were in risk-off mode ahead of tomorrow’s jobs report.

BISHOP'S STORTFORD, ENGLAND - JANUARY 25: Snowfall in the Essex countryside on January 25, 2021 in Bishop's Stortford, Essex, United Kingdom.
markets
Matt Phillips

AST SpaceMobile rises after favorable commentary from BofA

Mobile-services-from-space play — and retail investor favorite — AST SpaceMobile rose after receiving a target price upgrade from Bank of America analysts.

In a note published Thursday, BofA telecom services analysts lifted their price target for the stock to $100 from $85, while noting that the low-Earth orbit satellite industry — which supercharged stocks like Rocket Lab, Planet Labs, and AST in 2025 — is set to gain more attention this year:

“We expect the momentum to intensify in 2026 as providers like ASTS and Starlink jockey to offer full cellular service and capture subscribers. Debates will likely grow regarding Starlink’s plans to offer full cellular service and regulatory decisions on Ligado and EchoStar spectrum transactions are events to watch. Carrier partnerships could evolve and pricing and plan decisions should be clearer by year end as ASTS approaches full constellation operability.”

Still, they maintained their “neutral” rating on the stock, saying they “await progress on ASTS 1) fully producing and subsequently launching its BlueBird satellite constellation, 2) successfully operating the constellation, and 3) capturing subscribers and turning them into revenue paying subscribers before becoming more constructive on the story.”

The market has been less reticent: the money-losing company’s shares are up approximately 300% over the last year.

Luke Kawa
AIudiophile
6h
Morgan Stanley: Most Gen Zers and millennials in the US listen to about three hours of AI music a week

That’s enough AI music to last the run time of “Avatar.”

WNBA: JUN 23 Indiana Fever at Chicago Sky
Max Knoblauch

Bulls pour into Joby and Archer options as Trump’s push for record defense budget boosts eVTOL names

Options traders appear bullish on electric aircraft makers like Archer Aviation and Joby Aviation on Thursday, with large volumes boosting the stocks following President Trump’s call for a record $1.5 trillion US military budget for 2027.

Both companies, as well as newly public rival Beta Technologies, have sizable defense contracts. In July, Archer CEO Adam Goldstein told Sherwood News that he believes the company’s defense side will outpace its civil air taxi service for at least a decade.

Traders seem to believe him. As of 10:53 a.m. ET, about 31,000 Archer call options had exchanged hands, around 9,000 short of its 20-day average for a full day. Joby saw roughly 20,000 call options traded by the same time, eclipsing its 20-day average. For the most actively traded calls for Joby and Archer (C$17s expiring February 20 and C$9s expiring on Friday, respectively), volumes on the ask side are outstripping the bid or mid, indicating motivated buyers.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.
©2026 Sherwood Media, LLC