Cerebras Systems Inc. (NASDAQ:CBRS) shares are tumbling Monday to a record low, days after a short-seller report sent the stock sliding.
- Cerebras Systems stock is at significant support. What’s behind CBRS weakness?
Cerebras Stock Falls to a Record Low
Cerebras stock is sliding Monday to an all-time low. At about $95.57, the stock is trading roughly 75% below its May 14 peak of $386.34 and at its lowest level since its IPO earlier this year. A short seller report last week from Culper Research, a firm betting against the stock, knocked shares lower first.
Culper’s core claim: Cerebras’ giant chips wear out fast. It estimates a working life of just 1.5 to 2.5 years, against the three to five years the company uses in its accounting. The firm also challenged the chip design and the OpenAI contract, and it noted 50 million-plus more shares may unlock in early November.
These are Culper’s allegations, not established facts.
Cerebras Stock Technical Read: Downtrend Breaks to New Lows
Every bounce has faded, leaving a string of lower highs. The peak was $386.34 on May 14 and the next one $265.63 on Aug. 12, with a trough of $160.81 between them on June 26. Now the stock sits near $96, and Monday’s decline carved out a new bottom.
Volume was heavy during the drop. The session has spanned $96.01 to $106.81, and the stock trades near the bottom of that range. Selling looks stretched: the 14-day relative strength index reads 24.9, which counts as oversold. The 20-day moving average of $131.40 sits well above the price, which is 26.8% lower. MACD, a trend gauge, is negative on both counts: under zero and under its signal line.
If the stock closes above $104.18, last week’s low, the new breakdown would reverse.
Cerebras Shares Are Sliding
CBRS Price Action: Cerebras shares were down 11.46% at $96.67 at the time of publication on Monday. The stock is trading at a new 52-week low, according to Benzinga Pro.
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