CoreWeave shares drop 32% following Nasdaq 100 inclusion

CoreWeave has seen its stock value decline by one-third since joining the Nasdaq 100 index on June 22, 2026. Despite reporting strong revenue growth and a $100 billion backlog, the company's stock has fallen from over $119 at the time of index inclusion to near $80. During this period, company insiders, including CEO Michael Intrator and co-founder Brannin McBee, have sold over $600 million worth of shares. The company provides GPU computational capacity to major AI labs, but faces challenges regarding the rapid depreciation of hardware assets.