Nebius shares fall nearly 9% in US premarket after earlier 5% gain

A swing this sharp inside a single premarket session, with no stated cause, points to fragile liquidity and headline-driven positioning rather than any change in fundamentals. The absence of an explanation is itself the story: when a move of this size goes unattributed, it usually reflects thin order books or a reaction to unconfirmed chatter. For anyone tracking Nebius, the open question is whether the official session confirms the reversal or absorbs it, and whether a disclosed catalyst follows.