markets

Luke Kawa8/21/25

CoreWeave rallies as Jane Street reveals 5.4% stake

Before all that recent selling in CoreWeave shares due to the IPO lockup period expiring, there was also a big buyer.

Quantitative trading and market-making firm Jane Street accumulated a passive position of nearly 20 million shares, or 5.4% of the company, as of August 13, according to a 13G filing. As of that date, that stake was worth about $2.35 billion, or about $1.8 billion as of Wednesday’s close. Over half that reported position is in Jane Street’s options division.

Shares of CoreWeave are up about 3% as of 7:50 a.m. ET amid this news.

It should be stressed that Jane Street is a quantitative trading firm and liquidity provider, and that it amassed a large position CoreWeave shares ahead of what was sure to be a surge in trading volume. This stake is not necessarily an obvious signal of optimism regarding the near-term prospects for CoreWeave stock, but potentially more so the result of Jane Street identifying an attractive trading opportunity. But it could be both! Or just one.

That being said, if you are looking for a positive catalyst for CoreWeave, I would humbly suggest that the end of the initial rush of post-lockup selling is a much better one than the idea that the filing implies Jane Street thinks the shares are going to moon.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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