Premarket selloff hits CoreWeave, Rocket Lab and SK Hynix
Business
A lot happened before the market even opened today:
CoreWeave's stock dipped 6% as investors got nervous about its borrowing too much for an artificial intelligence build-out.
Rocket Lab shares dropped nearly 10% after it pushed its Neutron rocket launch back to 2027.
Over in South Korea, SK Hynix fell more than 7%, mostly because of similar funding worries and a sharp slide in the Kospi index.
Penske Automotive, Walmart, Crocs shares rise
On the upside, Penske Automotive jumped 8% after sharing plans to go private at $212 per share, a nice premium for shareholders.
Walmart got a boost of over 2% thanks to a Deutsche Bank upgrade.
And Crocs climbed almost 2% after Barclays cited "the company's progress on product innovation and category expansion and its international business growth."