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Trader "Loracle" bought the top and sold AI newcomer CBRS with a profit of nearly $2 million, and has begun partial profit-taking.
Mars Finance News reported that on May 18, according to Coinbob’s monitoring of popular addresses, the well-known trader “Loracle” on Hyperliquid again generated nearly $2 million in profit in this round of topping-and-shorting CBRS (Cerebras). The position has been continuously taking profit since yesterday morning, with the position size reduced from $11.3 million to $6.47 million, and unrealized gains still at $1.52 million (40%).
It is understood that Cerebras (CBRS), once dubbed the “strongest challenger to NVIDIA,” is a new AI star. After it was officially listed and surged on the NASDAQ last week, the trader entered the market to short it.
Previously, this trader topped out at the adjusted “buy” target price for SNDK at Mizuho Securities and opened an $8 million short position. That short position has now also begun taking partial profits, reducing the position to $5.1 million, with remaining unrealized profit of $850k (+57%).
As of press time, the short positions on the two major US stocks are still being reduced.
Address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae