CoreWeave Stock Surges 300% Post-IPO Amid Meme Stock Frenzy

CoreWeave, Inc. (CRWV) has seen its stock price skyrocket over 300% since its Nasdaq debut in March 2025, closing at a record $163.10 on Wednesday. CNBC's Jim Cramer attributes the explosive growth to retail trader enthusiasm, labeling it a meme stock squeeze. "I do think that Coreweave is a meme stock in that some hedge funds got short it and now they are being skinned alive by memesters," Cramer remarked on social media.

The AI data center operator raised $2 billion in bonds to refinance debt but faces significant upcoming payments. With 32 operational AI data centers and a major lease agreement, CoreWeave's growth prospects appear robust. Yet analysts remain cautious, maintaining price targets NEAR $70 as speculation grows that meme traders may pivot to other stocks like Palantir.