On May 21, Core Scientific rose 5.05% in regular trading, trading at $24.33/share, with trading volume of approximately $109 million.
On the news front, the company disclosed a Schedule 13G/A filing revealing changes in institutional investor holdings, sparking positive market expectations regarding capital inflows. The rebound was accompanied by a notable surge in trading volume, signaling renewed buying interest after a prolonged post-earnings selloff. The stock had been under sustained pressure since reporting a net loss of $347.2 million, primarily driven by $266.5 million in non-cash asset impairments.
The recovery was further supported by a broad rebound in the Application Software sector. Within the sector, D-Wave Quantum surged 24.66% and IREN Ltd gained 6.76%, providing effective sector linkage that helped propel Core Scientific above the $24 analyst target price previously set by Jefferies. However, not all sector constituents participated, with Intuit falling 19.78% and Strategy slipping 0.34%.
(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.)