In Austin Powers: International Man of Mystery , a Virtuocon guard famously stands in front of a commandeered steamroller, screaming "No!!" three times before being run over. The joke, of course, is that the hazard moved so slowly he had ample time to step out of the way. For months, equity traders holding CoreWeave (CRWV) have played that guard. Despite credit markets flashing warnings, equity holders essentially just stood there. Now, after a shocking 27.5% drop from last Friday's close to this Thursday morning's 52-week lows, followed by a whiplash 17% rebound, equity investors, if not squashed like Dr. Evil's henchman, are dazed and confused. Shares are down another 5% today.
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