CBRS posts below its IPO price after earnings report: After six weeks, it gives back all the IPO gains; “IPO day shorting” smart money reaches $5.8 million in profits for Yingda

Shenchao TechFlow message: On June 25, according to monitoring by Hyperinsight, after AI chip company Cerebras (CBRS)—previously dubbed “NVIDIA’s strongest challenger”—released its first quarterly report since listing, bearish guidance outweighed results that had exceeded expectations. The stock fell in stages; after the earnings report it had accumulated a drop of about 22%, and today it officially fell below the IPO offering price.

On-chain “giant whales” are broadly bearish. On the Hyperliquid platform, CBRS is currently quoted at $184, down 7.7% over the past 24 hours. Large short sellers (at the million-dollar level) total approximately $11.62 million, which is 2.39 times the longs ($4.87 million). Among them, two main whale short positions were even placed precisely at high levels on the IPO’s first day—and even before the IPO:

0xe0ff whale: Shorted at $284.51 on May 14, holding a position of $6.13 million with 3x leverage, with an unrealized profit of $3.24 million (+104%);

0x9996 whale: Shorted at $275.92 on May 11, holding a position of $5.48 million with 5x leverage, with an unrealized profit of $2.64 million (+162%).

It is reported that both addresses currently hold short positions in both CBRS and SPCX, and both have recorded significant unrealized profits. They prefer to place shorts at high levels before or on the day of major individual stock listings. With this round of earnings-related bearish guidance being realized, the total unrealized profit from the two positions is approximately $5.88 million.

Currently, the average entry price of the CBRS short “whales” is about $275, and the current price is already more than 30% lower than that. The nearest short liquidation level is at $200.13, about 7% away from the current price.