Cerebras ($CBRS) Hits Record Low Ahead of Lockup Expiry
Cerebras stock is now down ~58% from its IPO opening price and hit a new 52-week low, with ~19.4M shares set to unlock for sale on October 14, compounding pressure from OpenAI relationship concerns.
What we know
An account on X reports Cerebras ($CBRS) has collapsed ~58% from its opening-day price of ~$350 (IPO priced at $185 in May). A new 52-week low was printed, and the situation is set to worsen with ~19.4M shares eligible for sale beginning October 14 on lockup expiry. Concerns around the company's relationship with OpenAI have been cited as an overhang alongside the technical selling pressure.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.