TechFlow News, June 25: According to Hyperinsight monitoring data, Cerebras (CBRS), the AI chip company previously dubbed “Nvidia’s strongest challenger,” released its first quarterly report since going public. However, bearish guidance overshadowed its better-than-expected financial results, triggering a multi-stage stock price decline. Since the earnings release, CBRS shares have fallen approximately 22% and have now officially dropped below their IPO offering price.
On-chain whales are predominantly bearish overall. On the Hyperliquid platform, CBRS is currently trading at $184, down 7.7% over the past 24 hours. Large-scale short positions (at the million-dollar level) total approximately $11.62 million—2.39 times the long positions ($4.87 million). Notably, two major short positions were precisely established at high levels on the IPO’s first day—or even before the IPO:
- Whale 0xe0ff: Shorted at $284.51 on May 14 with 3x leverage, holding a $6.13 million position, generating unrealized profits of $3.24 million (+104%).
- Whale 0x9996: Shorted at $275.92 on May 11 with 5x leverage, holding a $5.48 million position, generating unrealized profits of $2.64 million (+162%).
Reportedly, both addresses currently hold short positions in both CBRS and SPCX, with substantial unrealized gains. They prefer establishing short positions at elevated prices ahead of—or on the day of—major stock listings. With this round of earnings-related negative catalysts now materializing, the combined unrealized profit from these two positions amounts to roughly $5.88 million.
Currently, the average entry price for CBRS short-position whales stands at approximately $275—over 30% higher than the current market price. The nearest liquidation price for these short positions is $200.13, about 7% below the current price.
