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Bedrock AI predicted Core Scientific $CORZ stock collapse

Updated: Dec 11, 2022

Bedrock uses AI to read securities filings and predict whether a company’s stock price would collapse based on its financial disclosures.

Bedrock AI predicted a price collapse at Core Scientific as early as March 2022 with a “very high risk” score.

Since then, CORZ’s stock price dropped from over $8 in March 2022 to only 12 cents in December 2022.

In addition to Core Scientific’s high Bedrock AI Risk Score, we also flagged multiple red flags at the company to our subscribers. Never miss red flags like these again, sign up for a trial here -

Bedrock’s algorithms identified qualitative red flags at CORZ in early 2022, including:

  • Material control weaknesses - The company had disclosed that it has ineffective internal controls due to:

  • Inadequate resources with sufficient accounting knowledge.

  • A lack of segregation of duties over posting journal entries.

  • A lack of segregation of duties over digital asset custody.

  • Management turnover -

  • CEO resignation in May 2021.

  • CFO resignation in April 2022.

  • Board resignation in November 2022.

  • Non-timely filings - The company has filed a notification of late filing (NT) four times since May 2021.

  • Goodwill impairment - CORZ recorded an impairment of goodwill totaling almost $1 billion during 2022 relating to its crypto mining segment.

Our Bedrock team also highlighted a couple of these red flags in a Twitter thread back in August 2022:

In CORZ’s most recent 10-Q, it has disclosed that there is a substantial doubt on its ability to continue as a going concern.

A few of our algorithmic red flags in early 2022, as shown in our Bedrock AI platform:

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