• Core Scientific's stock dropped 8.9% to $20.87 after Keefe Bruyette downgraded the company to 'Market Perform' from 'Outperform' and trimmed its price target to $25 from $28.
  • The downgrade was driven by concerns over "heightened execution risks" and moderated confidence in Core Scientific's ability to secure new lease agreements for its AI and high-performance computing infrastructure.
  • This move comes despite Galaxy Digital recently purchasing a $10.5M stake in the company.