CoreWeave halved since joining Nasdaq 100 as insiders sold $740 million

CoreWeave CEO Mike Intrator sold about $85 million worth of stock in the heavily indebted AI company between September 15 and September 30. Those same shares have since lost more than a quarter of their value. Insider selling is rampant at the company whose stock has lost $18 billion in market cap and more than 46% of its share price since joining the Nasdaq 100 index. CFO Nitin Agrawal sold at about $80 a share on Monday. CRO Jonathan Jones sold at about $77 on Tuesday, while the company’s cost to borrow skyrocketed to 15% annually on its 2032 bonds and shares plunged 15% one day later. General counsel Kristen McVeety sold 97,500 shares near $94 on September 8, taking in $9 million.

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