When I last covered Nebius Group (NASDAQ:NBIS) in mid-October, the stock was near $165, and I said I was still waiting to buy. Shares have kept falling since then. Even after jumping about 7% on Nov. 3, the stock is near $152 as I write -- off about 47% from June 18, when it closed at a record $286. 69. Two more things have changed. The artificial intelligence (AI) cloud provider announced a $3. 5 billion financing facility from Citigroup on Oct. 22. And it'll post third-quarter results on Thursday, Nov. 12, before the open.
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