CRWV is trading at $74.41, down 4.66% in pre-market following a securities fraud class action lawsuit alleging the company misrepresented customer demand and concealed significant data center construction delays.
- The legal action compounds pressure from the Feb. 26 earnings report, which revealed gross margins collapsing to 67.6% from 73% in the prior quarter.
- Management issued disappointing Q1 2026 revenue guidance of $1.9B–$2.0B, missing the $2.29B analyst consensus estimate.
- Shares have declined 18.51% since Feb. 27 as investors reassess deteriorating unit economics despite the company's $66.8B revenue backlog.