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![ehrazahmedd Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::139784127.png) Ehraz Ahmed [@ehrazahmedd](/creator/twitter/ehrazahmedd) on x 1851 followers
Created: 2025-06-20 09:06:17 UTC

$CRWV has rallied XXX% since IPO not because the business got better.

It rallied because:
Shorts were trapped. (30–45% of float)
The float was locked. (83% (held by insiders, VC firms)
Low float - <20% of total shares traded.
Borrow rates exploded. (343% → extremely expensive to stay short)

The rally was mechanical, not fundamental.

Meanwhile, the company is still:
Losing $300M+ per quarter.
Buried in 12.5%+ debt.
XX% dependent on Microsoft/OpenAI.
Holding aging Hopper chips with 6-year depreciation.

All this while $NBIS has been executing its business flawlessly and the stock price building momentum organically.


XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1935987557122142432/c:line.svg)

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[Post Link](https://x.com/ehrazahmedd/status/1935987557122142432)