CoreWeave: The Ghost of Bubbles Past? Also, Quick Hit on HIMS

The Fried-Day frenzy fumbles through a frenetic fling.

Not yet a paid subscriber to Herb on the Street and my Red Flag Alerts? Join the growing club, now in the hundreds, who want to avoid the biggest mistake investors make… or just want to understand the concept of risk. You can find out more and how to subscribe right here. If you would prefer to pay with soft dollars, or participate in an upper tier, please contact me directly.

---

This CoreWeave deal...

The “chatter” around CoreWeave first started around two years ago while it was private, with conspiracy theory after conspiracy theory about let’s just say – this and that.

Now comes its IPO and – oh, the flashbacks....

Shortly after stories that Nvidia NVDA 0.00%↑ was buying $250 million of CoreWeave stock at $40 to anchor its IPO, a friend pinged me with a link to this...

That’s right, in 1999 just before Williams Communications was about to go public, Intel took a $200 million stake for around 2% of the company.

In the heat of the Internet boom, Williams was building out a nationwide fiber optics network, and Intel INTC 0.00%↑ was building, as the story put it, “so-called ‘data centers...’”

Much like Nvidia, which is a CoreWeave customer, Intel was a Williams customer. And much like CoreWeave, which is an Nvidia customer, Williams was an Intel customer.

My friend joked...

I added...

And CoreWeave for Williams.

The kicker: Two years later, after the dot-com bubble burst, Williams filed for bankruptcy. Intel didn’t, but it was never quite the same.

Will history rhyme or repeat itself this time? You tell me.

Pass the ED Drugs, Please...

The only thing surprising about Hims & Hers HIMS 0.00%↑ is that its stock is so resilient in the face of so much uncertainty. The only people not taking a chance are execs, who can't exercise and sell fast enough... even as they take out ads encouraging users to contact the FDA "to protect your access to affordable compounded GLP-1."

Here’s the ad...

Here’s what insiders are doing, courtesy CapEdge...

Source: CapEdge

And a sample of what it looks like a little closer up...

Source: CapEdge

And just in case you don’t think this is a big deal, Ozempic maker Novo Nordisk NVO 0.00%↑ said at its annual meeting yesterday it’s likely to sue the compounders on grounds that they’re violating IP laws.

Ya think?

Please click the heart below if you liked this. And feel free to share with your friends.

---

DISCLAIMER: This is solely my opinion based on my observations and interpretations of events, based on published facts and filings, and should not be construed as personal investment advice. (Because it isn’t!) I have no position in any stock mentioned in this report.

Feel free to contact me at herb@herbgreenberg.com.