CoreWeave Stock Is Rising After Hours: Here’s Why – CoreWeave (NASDAQ:CRWV)

CoreWeave Inc CRWV shares are rising in Wednesday’s after-hours session after Jane Street took a passive stake in the company.

Find out what CRWV shares are doing now. View the charts here.

What To Know: U.S. trading giant Jane Street purchased approximately 19.95 million shares of CoreWeave as of Aug. 13, representing a 5.4% stake in the company, according to regulatory filings.

The news comes with CoreWeave shares well off 52-week highs of $187, per Benzinga Pro data. The stock has been trending lower since late June, following a strong run earlier in the year on the heels of the company’s March IPO.

CoreWeave reported mixed results for the second quarter last week with revenue of $1.21 billion beating estimates of $1.08 billion, but a quarterly loss of 27 cents per share, missing estimates for a loss of 17 cents per share.

Following CoreWeave’s second-quarter results, multiple analysts maintained neutral ratings, suggesting shares may be fully valued despite pulling back in recent weeks.

CoreWeave provides access to Nvidia GPUs for large technology and AI-focused companies.

How To Buy CRWV Stock

Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For CoreWeave, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

CRWV Price Action: CoreWeave shares were up 1.62% in after-hours on Wednesday, trading at $93.03 at the time of publication, according to Benzinga Pro.

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