CBRS is trading at $299 (3.9% down) as investors lock in gains following a massive 68% IPO surge amid a wider downturn in high-beta AI stocks.
- The stock is seeing a pullback from its May 14 debut as traders reassess a rich $67 billion valuation that remains heavily dependent on a small number of major customers.
- Today's decline is being exacerbated by a sharp selloff in the Nasdaq, which has placed significant pressure on volatile technology names.