Core Scientific Inc (CORZ)

[Thompson_AMM]

Core Scientific

Even stocks reaching fresh lows on the year are followed by analysts. Core Scientific is an example of that. The company hit $0.8407 on Tuesday, down over 90% since the start of the year. A mix of negative sentient, heavy selling pressure, and a muted cryptocurrency and Web3 market have helped with that trend. But the surge in cryptocurrency prices on Tuesday has helped bring some new life into the stock.Core Scientific provides high-performance blockchain data centers and software solutions. In its September update report, Core explained that it continues growing its infrastructure. CEO Mike Levitt said, “Despite these challenges, Core Scientific continued to lead the industry in bitcoin production. We produced 1,213 bitcoins for our own account. We expanded our total fleet (owned and colocated) to approximately 232,000 servers representing approximately 22.5 EH/s. I am proud of our team’s resilience, adaptability, and dedication in the face of difficult industry conditions.”

While it has been difficult, analysts have remained bullish on the penny stock.