Shares of CoreWeave, Inc. (CRWV) plummeted 5.06% in intraday trading on Wednesday, as investors reacted to a neutral rating reiteration from Goldman Sachs and mixed options sentiment. The significant drop comes just weeks before the company's scheduled earnings report on August 12, suggesting growing caution among market participants.

Goldman Sachs maintained its neutral stance on CoreWeave, stating that the company's financial profile has "largely played out" since they launched coverage in April. While this assessment quieted some of the most pessimistic outlooks, it failed to provide the positive catalyst some investors may have been hoping for. The neutral rating, combined with the upcoming earnings report, appears to have prompted some investors to take a more conservative approach.

Adding to the downward pressure, options trading data revealed mixed sentiment earlier in the day, with relatively light volume of 69,000 contracts traded. This uncertainty in the options market may have contributed to the overall negative sentiment surrounding CoreWeave's stock. As the company approaches its earnings release, investors will be closely watching for any signs of strength or weakness that could influence the stock's future direction.