Core Scientific, Inc.

CORZ

On March 3, 2022, Culper Research issued a short report alleging that Core Scientific “has wildly oversold both its mining and hosting businesses, which it cobbled together in a series of questionable transactions before dumping onto the market via SPAC.” The Culper report also noted, “On Monday, Core disclosed that its board waived the 180-day lockup on over 282 million shares, making them free to be dumped just 5 trading days from today. We believe this shows insiders have abandoned any pretense of care for minority shareholders.”

Core Scientific, Inc. went public via de-SPAC transaction in January 2022.

On this news, shares of Core Scientific stock fell more than 8% in intraday trading on March 3, 2022.

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