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CoreWeave CEO says Core Scientific 'not a need to have' as shareholder opposition to deal rises

1. CoreWeave CEO states acquisition of Core Scientific not crucial for their strategy. 2. Proposed $9 billion all-stock deal has faced shareholder resistance. 3. Core Scientific's share price fell 18% after acquisition news broke. 4. Institutional Shareholder Services recommends against the acquisition deal. 5. CoreWeave continues aggressive AI-related acquisitions despite potential deal failure.

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FAQ

Why Bearish?

The significant shareholder opposition and ISS recommendation could hinder investor confidence and lead to stock price declines, reminiscent of negative reactions to failed acquisitions in the past.

How important is it?

The news highlights potential volatility in Core Scientific's stock, given the ongoing M&A discussions, which could indirectly impact CORZ, especially if investor sentiment shifts rapidly.

Why Short Term?

Immediate trading reactions are expected as the shareholder vote approaches on October 30, potentially affecting Core Scientific's stock price quickly.

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