CBRS broke after earnings report: After six weeks of listing, it took back all gains, and shorted the two smarts on the first day of the IPO and earned 5.8 million US dollars

Comparative news, according to Hyperinsight monitoring, after the AI chip company Cerebras (CBRS), which was previously known as Nvidia's strongest challenger, published its first quarterly report since listing, the bearish guidelines overshadowed performance expectations. The stock price fell in stages. After the financial report, the cumulative decline was about 22%, and now it has officially fallen below the IPO issuance price.

The overall gap for giant whales on the chain is low. The Hyperliquid platform CBRS now reports $184, a 24-hour decrease of 7.7%. The total amount of large shorters (million-dollar level) is about US$11.62 million, 2.39 times that of the bulls (US$4.87 million). Two of the main empty orders were accurately placed on the first day of the IPO and even before the IPO:

- 0xe0ff giant whale: shorted at $284.51 on May 14, held $6.13 million with 3x leverage, and a floating profit of $3.24 million (+104%);

- 0x9996 Giant Whale: Shorted at $275.92 on May 11, held a 5x leverage of $5.48 million, and a floating profit of $2.64 million (+162%).

According to reports, both addresses currently hold CBRS and SPCX short orders at the same time, and both have recorded considerable profits, preferring to empty at high levels before or on the day of major individual stock listings. Following the negative earnings in this round, the two combined surpluses totaled about US$5.88 million.

Currently, the average price for CBRS bears to open positions is about 275 US dollars, which is more than 30% lower than that; currently, the most recent short settlement line is at 200.13 US dollars, which is about 7% from the current price.