# CoreWeave Analyst Abandons Short Position

> Pythia Research analyst shifts from shorting CoreWeave after 43% decline but maintains sell rating.
- Title: CoreWeave Analyst Abandons Short Position · Seekingalpha
- Summary: Pythia Research analyst shifts from shorting CoreWeave after 43% decline but maintains sell rating. Pythia Research analyst stops shorting CoreWeave despite…
- Keywords: pythia research, coreweave, crwv, nasdaq, backlog, shorting, sell rating, 43% decline, money, business, Analyst, Abandons
- Source: Seekingalpha — https://seekingalpha.com/article/4955508-coreweave-why-im-abandoning-ship-but-not-shorting-it
- Author: Pythia Research
- Published: 2026-10-20T14:50:31+00:00
- Read time: 1 min
- Topics: pythia research, coreweave, crwv, nasdaq, backlog, shorting, sell rating, 43% decline, money, business
## CoreWeave Backlog
Pythia Research analyst shifts from shorting CoreWeave after 43% decline but maintains sell rating.
## Analyst's View Change
Analyst previously accepted unattractive balance sheet due to strong operating trajectory.
## Financial Metrics
Goldman sees new contracts producing $13 million ARR per MW and 15% unlevered IRRs.
## Bond Yield Risk
CoreWeave’s 2031 bonds yield roughly 15%, signaling substantial credit risk despite recent stabilization.
## Rating Decision
I rate CRWV a Sell but avoid shorting after a 43% decline and report implied volatility approaching approximately 120%.
## Key takeaway

Pythia Research analyst stops shorting CoreWeave despite 43% price drop after reevaluating its $104.2 billion backlog.