Dhiraj Mallick, the chief operating officer of Cerebras sold $78 million dollars worth of Cerebras stock.
$CBRS
AI SUMMARY — Cerebras' COO sold $78 million in stock, leaving zero personal stake in the company coinciding with reports that OpenAI's new GPT-6 model won't use Cerebras' Wafer Scale Engines. This insider selling and lost partnership opportunity signals potential loss of confidence in the company's future prospects.
| TICKER | CBRS |
USER | u/Fearless-Elephant-81 |
| RATING |
BEARISH |
ENTRY |
$179.29
|
| POSITION |
55 sh
SYN
|
BOOK VAL |
$10008.65 |
| CURRENT |
$116.16 |
P&L % |
-35.21%
|
| CURR VAL |
$6484.31 |
P&L $ |
-3524.34
|
This would leave him with absolutely ZERO stake in the company, which is odd for a COO. This also happened right after OpenAI’s devday announced GPT6 ultrafast which was reported by SemiAnalysis to NOT use Cerebras Wafer Scale Engines !!!
This could be a signal that Mr. Mallick has lost confidence in the company and spell more trouble to come for Cerebras !!!