CoreWeave extends decline as IPO lock-up expiration looms

** Shares of CoreWeave CRWV.O falling another 13% to $102.22 on Thurs as the IPO lock-up period is due to cease after the bell

** Early investors and co insiders will be able to sell their shares for the first time since cloud computing co's Mar IPO beginning on Fri, Aug 15. About 84% of CRWV's Class A shares outstanding, or roughly 300 mln shares, will become eligible for sale, per the offering prospectus

** On Wed, CRWV shares shed ~21% after the Nvidia-backed NVDA.O co posted a bigger-than-expected loss, raising doubts about its ability to keep costs under check amid robust AI demand

** Sometimes, a stock can be volatile and come under pressure as the lock-up expiration nears, especially given a limited public float of shares

** Even with the latest decline, CRWV shares are well above their $40 IPO price. The shares hit intraday peak of $187 on Jun 20

** Of 24 analysts covering CRWV, recommendation breakdown is 5 "strong buy" or "buy", 16 "hold" and 3 "sell" ratings, according to LSEG data

** Median PT of $120 is up from $72.22 a month ago