Cerebras' Crash Course: The Highs and Lows of a Hot IPO Cerebras Systems, a Wall Street darling among AI enthusiasts, suffered a drastic decline on Friday after its scorching debut.
Just 24 hours prior, the company's shares had skyrocketed as it began trading on the Nasdaq Stock Market following an initial public offering that priced well above expectations.
The stock plummeted by over 10% to close at $279. 72. This reversal has left many wondering if investors got ahead of themselves.