Key points
- AI data-center, neo-cloud, and bitcoin-miner stocks ticked higher pre-market on June 29, then sold off sharply right at the 9:30 open.
- By mid-afternoon, 16 of 18 names we tracked were red from the open, most down 3% to 10%, led lower by Bitdeer (BTDR), HIVE, and Applied Digital (APLD).
- They are slowly grinding back up off the day's lows. Two names bucked it: Nebius (NBIS) was up about 5%, and Vertiv (VRT) was roughly flat.
Here is a clean example of how a whole high-beta group trades as one. On Monday, June 29, the basket of AI data-center, neo-cloud, and bitcoin-mining stocks did nearly the same thing in lockstep: drift up before the bell, drop hard the moment the market opened, then claw back slowly through the afternoon.
Up before the bell, down at the open
In pre-market trading the group was firm. CoreWeave (CRWV) sat near $98 to $99, above Friday's $96.58 close. HIVE Digital (HIVE) hovered around $4.10, and Keel Infrastructure (KEEL), pushed up to about $6.18, above its $6.03 close. Nothing dramatic, just a quietly green pre-market.
Then the opening bell flipped it. In the first 30 to 60 minutes the selling was steep. CoreWeave opened at $98.34 and fell to $89.56, down about 9 percent from the open. HIVE opened at $4.12 and dropped to $3.57, off roughly 13 percent. Keel opened at $6.05 and slid to $5.41, down about 10 percent. The pattern repeated across almost the entire group.
Where the group stands
By mid-afternoon, with the market still open, here is the open-to-current scoreboard, sorted from the biggest decliner to the lone gainer. Prices are as of about 3:25 p.m. Eastern and will settle at the close.
| Ticker | Open | Now | Open to now |
|---|---|---|---|
| BTDR (Bitdeer) | $17.90 | $16.13 | -9.9% |
| HIVE (HIVE Digital) | $4.12 | $3.80 | -7.9% |
| APLD (Applied Digital) | $39.94 | $37.46 | -6.2% |
| BTBT (Bit Digital) | $2.01 | $1.89 | -6.0% |
| CLSK (CleanSpark) | $16.60 | $15.72 | -5.3% |
| CORZ (Core Scientific) | $27.42 | $25.99 | -5.2% |
| HUT (Hut 8) | $125.26 | $118.76 | -5.2% |
| CIFR (Cipher Mining) | $26.31 | $25.07 | -4.7% |
| IREN | $48.61 | $46.35 | -4.6% |
| KEEL (Keel Infrastructure) | $6.05 | $5.80 | -4.2% |
| WULF (TeraWulf) | $26.57 | $25.53 | -3.9% |
| RIOT (Riot Platforms) | $28.89 | $27.84 | -3.7% |
| MARA (MARA Holdings) | $14.77 | $14.33 | -3.0% |
| CRWV (CoreWeave) | $98.34 | $95.70 | -2.7% |
| DLR (Digital Realty) | $192.34 | $189.52 | -1.5% |
| EQIX (Equinix) | $1,098.09 | $1,082.15 | -1.5% |
| VRT (Vertiv) | $303.95 | $305.52 | +0.5% |
| NBIS (Nebius) | $249.14 | $262.50 | +5.4% |
The slow grind back
The encouraging part, if you are watching for a bottom, is that these names stopped falling and started creeping back up off the lows. CoreWeave climbed from $89.56 back to about $96. HIVE worked from $3.57 up to roughly $3.80. Keel came off $5.41 to about $5.80. None are green from the open, but the afternoon has been a slow recovery rather than fresh selling, the kind of action worth watching into the close and tomorrow. For more on HIVE specifically, see our look at its green-mining and AI pivot.
Two names that did not follow
Not everything fell. Nebius (NBIS) was the clear standout, up about 5 percent and trading near $262 while the rest of the group bled. Vertiv (VRT), which sells the power and cooling gear that goes inside data centers rather than running them, was roughly flat, and the big data-center REITs Equinix (EQIX) and Digital Realty (DLR) were down only about 1.5 percent. So the damage was concentrated in the high-beta miners and neo-clouds, not the steadier infrastructure names. For more on the neo-clouds, see our look at CoreWeave and Nebius.
What to watch
There is no single headline that obviously caused the drop. This is a tightly correlated, high-beta basket, and after strong recent runs a quick open selloff often looks like profit-taking and positioning rather than a change in the story. What matters now is whether the afternoon bounce holds: if these names finish near the highs of their recovery, the pre-market-pop-then-flush looks like a shakeout; if they roll back over, it is a warning sign for the group. It is one to watch, not chase, and it fits the broader dip-or-bubble debate hanging over the AI trade. None of this is investment advice.
Cover photo: BalticServers.com via Wikimedia Commons, CC BY-SA 3.0, cropped.
This is general market commentary and opinion, not investment advice. Markets can go down as well as up, and you can lose money. Always do your own research and consider speaking with a licensed financial professional before making any investment decision.
