On July 29, Core Scientific, Inc. declined 5.64% in regular trading, trading at $19.62/share, with turnover of $98.64 million.

The decline was driven by continued market reaction to the company's Q2 earnings report released the previous trading day. Core Scientific posted a net loss of $3.32 per diluted share, dramatically missing the analyst consensus estimate of a $0.06 to $0.10 loss, representing a significant widening from the $0.04 per share loss a year earlier. While revenue of $164.2 million beat the $143-$145 million estimate, the massive EPS miss triggered persistent selling pressure.

Adding to the headwinds, Keefe, Bruyette & Woods had already downgraded the stock from Outperform to Market Perform and cut its price target from $28 to $25. Although the company simultaneously announced a partnership with AMD for up to 2.5 gigawatts of data center capacity starting in 2027, the positive catalyst failed to offset concerns over ballooning expansion costs. The combination of the earnings miss and analyst downgrade continued to fuel selling into the second session.

(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.)