Core Scientific Inc. (NASDAQ:CORZ) has signaled a definitive reversal in market sentiment this week, flashing bullish technical signals following an upgrade from BTIG.
Check out CORZ’s stock price here.
Momentum Score Skyrockets
The stock, which had previously lagged peers, saw its momentum metrics surge after a BTIG analyst declared that the uncertainty surrounding its rejected merger with CoreWeave Inc. (NASDAQ:CRWV) has finally cleared.
According to Benzinga Edge data, Core Scientific’s momentum score underwent a massive week-over-week transformation, jumping from a bearish 16.34 to a bullish 81.98.
In the context of these rankings, momentum is defined as a measure of a stock’s relative strength based on price movement patterns and volatility over multiple time frames, ranked as a percentile against other stocks.
This quantitative surge is supported by the stock’s price trend indicators, which are positive across short, medium, and long time horizons, signaling an upward trend over the last year, quarters, and months.
Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.
The ‘Dust Settled’ Thesis
The technical breakout aligns with a fundamental shift identified by BTIG analyst Gregory Lewis, who upgraded Core Scientific from Neutral to Buy with a $23 price target.
Lewis noted that the “dust settled” following shareholders’ rejection of the merger with CoreWeave, as per a TipRanks report. Despite securing contracts to convert power infrastructure from crypto mining to high-performance computing (HPC), the stock had been one of the worst performers in the sector.
However, BTIG now expects the company to “hit the ground running” in 2026 as it secures additional HPC colocation contracts, leveraging its strong power infrastructure for compute.
CORZ Jumps Over 26% In The Last 6 Months
Shares of CROZ have gained 26.40% in the last six months and 26.03% in the last year. Also, it was up 16.44% in 2026 so far.
On Friday, the stock closed 2.76% higher at $17.14 apiece, and it was 0.99% lower in premarket on Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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