On August 1, Core Scientific, Inc. fell 5.04% in regular trading, trading at $20.775/share, with turnover of approximately $190 million.

On the news front, the stock had rallied sharply over the prior two sessions after Keefe, Bruyette & Woods upgraded its rating from Market Perform back to Outperform and raised its price target from $25 to $28. However, the underlying fundamental overhang from Q2 earnings remains unresolved — the company posted a net loss of $3.32 per share, far exceeding the analyst consensus estimate of a $0.06 loss, despite revenue of $164.2 million beating the $144.8 million estimate. Short-term profit-taking following the upgrade-driven bounce pressured shares.

Sector-wide weakness compounded the decline. Within the Application Software sector, AppLovin fell 4.36%, IREN dropped 3.87%, and Strategy declined 4.22%, reflecting broad risk-off sentiment across related names.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)