Cerebras stock hits record low of $146.98, down 62% from its first-day high

Cerebras Systems shares sank to a post-IPO low between $146.90 and $146.98 on October 12, 2026. That leaves the AI chip designer roughly 21% below its $185 IPO price and approximately 62% under its first-day intraday high of $386. From $386 to under $147 The stock (NASDAQ: CBRS) debuted on May 13, 2026, with an IPO price of $185 per share. The company sold 30 million shares in the offering, raising between $5.55 billion and $6.4 billion. Shares opened at $350, touched an intraday high of $386, and closed at $311.07. That close represented a 68% gain over the offering price. At its first-day peak, the market valued Cerebras at around $95 billion. By early October, Cerebras’ market capitalization had fallen to approximately $39 billion. Three pressure points Lock-up expiration. IPO lock-ups bar insiders and early backers from selling shares for a set period after a listing. When that window closes, a wave of previously restricted stock can suddenly hit the market. Insider selling. Insider sales of approximately $84 million were planned around October 1, 2026. Nvidia competition. Over the summer, a report from SemiAnalysis indicated that critical workloads were shifting from Cerebras ...