CBRS Stock Plunges 18% After Earnings Report, Two Short Sellers Make $3.65 Million in One Hour

August 13th, according to TradingBeats (formerly Hyperinsight) monitoring, Cerebras (CBRS) experienced a rapid sell-off this morning after releasing its financial report, with the price dropping from $261.81 to $224.64, a one-hour decline of 14.2%, reaching a maximum drawdown of 18%.

The financial report itself contained positive data, but CBRS had previously risen from around $195 to $263 in the days leading up to it, a nearly 35% increase. The positive news may have already been priced in. After the financial report was released, the lower gross margin and profitability may not have matched the current valuation.

Two multi-million-dollar level short positions did not reduce their positions before the financial report and held their full positions through this round of decline. The two largest short positions collectively gained approximately $3.646 million:

The address starting with 0x999 held a short position of approximately $11.604 million, with a gain of approximately $1.983 million in just 1 hour, currently having an unrealized gain of around $1.35 million.

The address starting with 0xe0f held a short position of approximately $9.733 million, with a gain of approximately $1.663 million in just 1 hour, currently having an unrealized gain of around $1.952 million.

No significant whale liquidations were observed on the long side. From 4:00 a.m. to 4:30 a.m. this morning, a total of 66 small CBRS liquidations occurred, involving 61 addresses, with a total nominal liquidation amount of approximately $389,000. The largest single address was liquidated for about $105,000, realizing a loss of approximately $6,908.

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