Shares in AI cloud provider CoreWeave started trading on Friday after what turned out to be a rocky IPO. But that doesn't mean that other likely tech IPOs this year are destined to be duds.
CoreWeave's stock fell as much as 5% in the first hours of trading on Friday before rebounding to near their $40 IPO price. In theory, that means the stock is trading flat, but in reality, it's down considerably from the $47 to $55 that company had originally hoped its shares would sell for in the IPO.
