Nebius Stock Has Fallen About 40% From Its Record. Here’s Why I’m Still Waiting to Buy.
On June 18, Nebius Group (NASDAQ:NBIS) stock ended the day at $286.69, a record. Right now, shares trade around $165 — about 40% lower. Most of that drop is recent, with the stock falling about 30% in October alone.
Sure, it’s still been a great year for anybody who bought the artificial intelligence (AI) cloud provider’s stock in January. Even after the slide, the stock has nearly doubled this year.
But the stock arguably isn’t cheap enough yet. Nebius is calling for a sharp gain in revenue in the next two quarters, and I think the price already assumes it gets there.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.