Cerebras (CBRS) climbed sharply during U.S. trading on July 22, reaching an intraday high of $242 as its gain widened to 23%, according to Hyperinsight data cited by BlockBeats. The rally pushed the stock back above its $185 IPO price.
The immediate catalyst was a strategic partnership between Cerebras and CrowdStrike. Under the announcement, CrowdStrike will use Cerebras inference infrastructure to power its Falcon AI Detection and Response model. The companies did not disclose the size of the contract.
Shares moved back out of the post-IPO loss zone
CBRS debuted on May 14. On its first trading day, the stock rose as high as $386.3 and closed at $311. After the company released its first earnings report, shares came under pressure as its full-year core gross margin guidance fell short of expectations. The stock first closed below its IPO price on June 25 and then dropped to a post-listing low of $160.81 on June 26.
Based on the July 22 intraday high, CBRS had rebounded 49.2% from that low and was trading 29.7% above the $185 offering price. Even so, it remained 37.9% below the first-day record high of $386.34. In other words, the stock has recovered the decline that took it below issue price, but it has not yet returned to its first-day peak.
Address starting with 0xc262 briefly saw a 380% return
Hyperinsight also showed that a smart-money address beginning with 0xc262 made its first CBRS trade on July 18. During a brief second dip, the address opened a long position of 1,036.35 units through 217 fills at an average price of $173.6, for a total position size of about $179,000. That entry cost was 6.1% below the IPO price.
When CBRS on Hyperliquid rose to around $239.64 intraday, the 10x isolated-margin long position briefly posted a return of 380%. As of publication, the position was worth about $237,700, with unrealized profit of about $57,700. The return had eased to 320.7%, and the liquidation price stood at $81.9.