Cerebras Stock Plunges to Post-IPO Low Amid Nvidia Pressure and Lockup Expiration
Shares of chipmaker Cerebras tumbled roughly 20% over the week following pressure from Nvidia and the end of its post-IPO share lockup.
Shares of AI chipmaker Cerebras fell to a new post-IPO low after tumbling approximately 20% over the week, CNBC and The Tech Buzz reported.
According to the reports, the drop in share price was driven by mounting competitive pressure from chip giant Nvidia, alongside the expiration of the company's post-IPO lockup period, which triggered a wave of selling in the market. Further detailed figures regarding trading volume have not yet been released.
Sources: The Tech Buzz, CNBC Tech, The Tech Buzz, The Tech Buzz
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