Nebius Shares Rise 2.7% by Midday as Opening Gain Narrows
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Nebius Group N.V. (Nasdaq: NBIS) shares rose 2.7% by 12:48 p.m. ET (16:48 UTC) Monday, surrendering most of a 6.7% opening gain after a steep decline Friday. The AI cloud infrastructure company’s stock opened at $176.51, compared with its Oct. 16 close of $165.47. At the midday observation, shares traded at $169.91. That was $6.60 below the opening price, though still $4.44 above the previous close. Nebius had closed Wednesday amid a broader technology selloff at $186.01 after losing $20.85 in that session. Its 12.18% decline Friday extended the retreat. Monday’s quote remained below the $221.07 close recorded Oct. 9. Truist Securities had a Buy rating and a $355 price target on Nebius. The company’s expansion involves substantial capital spending.
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