markets

8/15/25

This looks like the massive post-lockup CoreWeave selling that traders were worried about

More than 10 million shares of CoreWeave changed hands in after-hours trading on Thursday, pushing the recently slammed stock down yet again prior to a nice bounce at the open on Friday.

This really looks like the post-IPO lockup expiry selling that traders were worried about (and we had long warned about) when they sent shares of the AI cloud computing company tumbling more than 30% in the two trading days following the release of second-quarter earnings.

As a reminder, CoreWeave’s post-IPO lockup expired as of “the close of trading on the second trading day after the date that we publicly announce earnings for the second quarter,” or in other words, two days after Tuesday — that is, after the close on Thursday.

This was the most activity in the stock from 4:01 p.m. through 7:59 p.m. ET in its short history as a publicly traded company, outstripping volumes seen in the wake of both its Q1 and Q2 quarterly results.

We saw massive trades go off during this period — 1 million shares, 850,000 shares, 672,176 shares, 378,000 shares, and so on. In all, there were 11 trades in excess of 100,000 shares.

And the lion’s share of this activity took place on the bid side, indicating motivated sellers exiting their positions. As a reminder, the “bid” is the highest price a buyer is willing to pay, and the ask, which is higher than the bid, is the lowest price a seller is willing to accept.

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19m

Joby takes off as Uber says it’ll add Blade helicopter trips to its app

Shares of air taxi maker Joby Aviation are up more than 7% in premarket trading Wednesday, following news that Uber will add the company’s Blade helicopter and seaplane services to its app as soon as next year.

Joby CEO JoeBen Bevirt said in a statement that the fresh partnership “will lay the foundation for the introduction of our quiet, zero-emissions aircraft in the years ahead.” A Joby air taxi completed its first test flight between US airports last month. The company has said it’s 70% complete with the fourth stage in the five-stage FAA certification process.

Uber, which was flat on the announcement, sold its air taxi business to Joby in 2020.

Joby announced its $125 million acquisition of Blade (minus the company’s primary organ transplant business) in early August. More than 50,000 passengers used Blade services last year, according to Joby’s press release.

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35m

Nio sinks after announcing $1 billion share offering to fund EV development

US-listed ADRs of Chinese EV maker Nio sank more than 8% in premarket trading on Wednesday as investors face $1 billion in share dilution from a secondary offering.

Nio plans to issue up to nearly 182 million shares, raising up to $1 billion according to terms seen by Bloomberg.

Net proceeds from the sale will be put toward R&D around smart EVs and used to “develop future technology platforms and vehicle models across its brands,” Nio said in its announcement. The company also plans to expand its battery swapping and charging network.

The EV maker, which has yet to post a profit in its 11-year history, has ambitious growth plans despite the steep competition in China. It delivered a record 31,305 vehicles in August, including 10,575 sales of its Onvo L90, a Tesla Model Y competitor. The new three-row, $27,000 SUV is the company’s fastest model to reach 10,000 sales.

J. Edward Moreno

Hims expands into testosterone treatments

The company will start with compounded enclomiphene, with more treatments to come in 2026.

Hims & Hers Health CEO Andrew Dudum

David Crowther, Claire Yubin Oh

CLOUDY WITH A CHANCE OF a $1 Trillion market cap

Oracle’s insane cloud infrastructure forecast is giving shades of Nvidia’s data center business

But it’s just a forecast, of course.

A businessman with his head in the clouds.

markets

2h

Oracle’s outlook for massive cloud sales growth is driving a bid to buy everything AI

“Listen, even I’m sort of blown away by what this looks like going forward.”

That’s how the Q&A portion of Oracle’s Q1 2026 earnings call started, with Guggenheim Securities analyst John DiFucci expressing amazement at the company’s outlook for hockey-stick revenue growth in its cloud business thanks to AI.

Oracle’s outlook for cloud sales to rise in an Nvidia-like fashion to $144 billion in its fiscal 2030 from $18 billion in fiscal 2026 is fueling gains across chip suppliers, infrastructure suppliers, server companies, and power providers linked to the AI boom.

Though the gains pale in comparison to Oracle’s more than 30% advance in premarket trading, the other companies atop the S&P 500’s leaderboard include Advanced Micro Devices, GE Vernova, Vistra, Nvidia, Arista Networks, Constellation Energy, Broadcom, NRG, Micron, and Super Micro Computer. All are up at least 1.5% as of 8 a.m. ET.

It’s a similar dynamic to what we saw throughout the AI ecosystem on the heels of Microsoft and Meta’s earnings reports at the end of July, and quite different from the reaction within the chip space after Broadcom’s quarterly release last week (even if that didn’t really make a ton of sense fundamentally).

The seemingly massive rising tide prophesied by Oracle really is lifting all boats.

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