Circle Internet (CRCL) closed at around $100, a pre-breakout price not seen since its initial public offering.
In the third quarter, Circle earned $0.64 a share on revenue of $740 million (+65.9% Y/Y). Although it beat expectations and raised its guidance, CRCL stock fell. Still, members on its network make money. The flow creates fees for their users. As an attractive platform, expect user growth to strengthen.
CoreWeave (CRWV) traded at lows not seen since September at below $85. The firm lost $0.22 a share in Q3. Savvy investors are noticing its weak cash flow, rising debt, and aggressive depreciation assumptions for its aging GPU products. If GPU prices fall, this firm would need to increase its goodwill calculation. That hurts shareholders.
The firm increased its leverage, too. It raised its debt facility to $2.5 billion, albeit to support its growth. This is up from $1.5 billion. JP Morgan Chase, Morgan Stanley, and Goldman Sachs are among those leading the facility.
Rivian (RIVN) enjoyed a sharp run-up from below $13 to up to $18.00. On Tuesday, the stock traded as low as $16.50 before closing at $17.52. The firm will reward its CEO with a $4.6 billion pay package over the next decade. This is in a similar compensation structure to that Tesla (TSLA) is offering CEO Elon Musk.
