CoreWeave Insider Sales Reach $740 Million as Shares Drop More Than 46%

Shares of AI company CoreWeave have fallen more than 46% since it joined the Nasdaq-100 on June 22, as executives and directors sold about $740 million in stock over the same period.

Shares opened near $119 on June 22, when CoreWeave joined the index, and below $62 on Oct. 15. The decline erased about $18 billion in market value.

CEO Mike Intrator sold about $85 million worth of stock from Sept. 15 through Sept. 30. General counsel Kristen McVeety sold 97,500 shares near $94 apiece on Sept. 8, for about $9 million.

Co-founder Brannin McBee sold 250,000 shares near $106 on Aug. 17, raising $27 million. Chief Financial Officer Nitin Agrawal sold at about $80 a share Monday, Oct. 12, followed by Chief Revenue Officer Jonathan Jones at about $77 Tuesday, Oct. 13.

Shares fell 15% Wednesday, Oct. 14, extending CoreWeave's decline at the U.S. market open earlier that day.