Core Scientific Inc ( (CORZ) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Core Scientific Inc’s stock has faced a notable decline, dropping around 30% after the launch of DeepSeek R1, a low-cost AI model by a Chinese startup, which has caused unease in tech markets. Despite this steep drop, analysts, including Gautam Chhugani from Bernstein, remain optimistic, maintaining a Buy rating due to Core Scientific’s strategic position in AI and Bitcoin mining. The company’s capability to swiftly develop hybrid data centers and expand power capacity is viewed as a growth driver, presenting an attractive opportunity at its current valuation. KBW has also initiated coverage with a positive outlook, underscoring the potential upside. Analysts regard the price decline as a potential entry point, rating the stock as a Strong Buy, supported by its ongoing expansion efforts and strategic initiatives.
More about Core Scientific Inc
YTD Price Performance: -20.86%
Average Trading Volume: 11,501,496
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $3.16B
For further insights into CORZ stock on TipRanks’ Stock Analysis page.
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