CoreWeave (CRWV) Gets Hammered by ISS Thumb Down of CORZ Merger

We recently published 10 Stocks With Massive Losses; AI Stocks Not Spared. CoreWeave, Inc. (NASDAQ:CRWV) is one of the worst performers on Monday.

CoreWeave, Inc. (NASDAQ:CRWV) fell for a second day on Monday, shedding 7.17 percent to finish at $127.06 apiece after the Institutional Shareholder Services (ISS) recommended to thumb down on the firm’s proposed merger with Core Scientific Inc.

The stance came despite Core Scientific’s Board of Directors saying that the proposed transaction represents the best available alternative for shareholders.

Earlier this year, Two Seas Capital—owner of approximately 6.5 percent of Core Scientific, Inc. (NASDAQ:CORZ), and also a shareholder of CoreWeave, Inc. (NASDAQ:CRWV)—said that the merger “leaves Core Scientific shareholders exposed to the high volatility of CoreWeave’s share price with no protections on the value they will receive at or following close.

The opposition created uncertainties around the transaction’s future, with the ISS’s stance potentially influencing institutional investors relying on proxy advisory services for voting guidance.

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Disclosure: None. This article is originally published at Insider Monkey.