On August 17, NEBIUS declined 3.02% in regular trading, trading around $268.44/share, with turnover of $691 million. The stock faced continued selling pressure despite having surged over 34% earlier in the week following strong Q2 earnings.

The decline was driven by multiple bearish signals converging. On August 15, a $18.2 million bear put spread targeting January 2027 expiry emerged in the options market, explicitly betting on medium-term weakness. This followed consecutive days of large bearish options positioning, including a $3.68 million double-buy out-of-the-money put combination on August 14. Meanwhile, famed short seller Michael Burry has publicly increased his short position, calling NEBIUS the epitome of the boom peak and questioning the sustainability of its pricing structure. Non-executive director Ryan Charles E also filed to sell approximately $12.75 million in shares. Additionally, concerns have risen over the company's remaining performance obligations tilting toward shorter-term contracts, raising questions about revenue durability despite Q2 revenue surging 454% to $582.3 million.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)