Crypto miner Core Scientific drops after new short call from Culper Research

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• Core Scientific (NASDAQ:CORZ) fell 3.8% after a new short report from Culper Research.
• Culper alleges that Core Scientific "wildly oversold" both its mining and hosting business. Culper also highlighted that CORZ on Monday disclosed that its board waived a 180-lockup on over 282M shares, which will allow insiders to sell the shares.
• Core Scientific (CORZ) didn't immediately respond to Seeking Alpha request for comment.
• Culper said that it's short CORZ.
• Core Scientific began trading after completing a de-spacing transaction in late January. The company first announced plans to go public through a deal with SPAC Power & Digital Infrastructure Acquisition Corp in July.
• Last week, Core Scientific stock climbed after new buy rating at BTIG.

Comments

[Dan Victor, CFA]

anyone can have an opinion but a news article like this is not necessary. this "short" thesis is weak.. if BTC hits $50k.. CORZ is a +$20 stock

[radmanjeff63]

Read the article and see all the BAD MEN involved in this company and RUN FOR THE HILLS! This is going to crash with these guys in charge. How they were even allowed to create a company with this valuation is also CRIMINAL!

[Permuddlologist]

Value investor, Bill Miller was on CNBC in the last day or two talking up his holdings in CORZ and SDIG. Too bad this short report came out after that. It would be good to hear what he would say. Shorts provide a valuable service in the market, which is generally full of cheerleaders. Lots of the short reports in the cannabis industry turned out to be correct. And if they are wrong, they provide a great buying opportunity. If CORZ was good at $8.40, it's much better at $7.

[HappyPappy2011]

Scummy short selling firm always making false accusations. Nonetheless CORE has done a disgraceful job protecting shareholder value. Right after merger closes 15,000,000 share offering. Next up early unlock (by 5 months!) of 300,000,000 shares. This type of selfish and disrespectful behavior to existing shareholders allows a greater panic to set in. Holding for now but DEEPLY DISAPPOINTED in management!

[Sagar1]

Culper Research is a ass Ho**. Tell Culper to close their firm. Why they did not publish this last year July 2021. Why now. it is all game plan. Bull shi*. I know only stock since last Aug 2021. Core scientific make1000 bitcoin every month. If is true culper is shit.

[pablosheridan]

Edit your work people!

[Vincent Ventures]

More like the stock is wildly oversold… clearly Culper Research struggles to adjust bitcoin to strict GAAP accounting rules

[MachineLearning]

Well if any of this report is true the company is going to pennyland.