On August 18, Core Scientific, Inc. fell 5.19% in regular trading, trading at $19.25 per share, with turnover of $33.26 million. Multiple bearish factors continued to weigh on the stock.

On the news front, the company completed its acquisition of Polaris DS for approximately $444 million in cash on August 14, adding about 440 megawatts of gross, grid-connected power capacity in Oklahoma and reiterating plans to scale its Muskogee campus to about 1.5 gigawatts of gross power. Meanwhile, the company's Q2 results reported on July 28 showed a net loss of $3.32 per diluted share, significantly missing the analyst consensus estimate of a $0.06-$0.10 loss. Revenue of $164.2 million beat estimates but failed to offset profitability concerns.

Additionally, the partnership with AMD announced in late July for up to 2.5 gigawatts of data center capacity included market-priced warrants for AMD to purchase Core Scientific shares, raising equity dilution concerns. Despite B. Riley raising its price target to $42 and Keefe Bruyette upgrading the stock to Outperform, short-term cash outflow from the acquisition and the substantial quarterly loss continued to dominate selling pressure.

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