Micron shares were up about 6% before the US market opened on Wednesday. The stock closed Tuesday at $725.11. Two things pushed it up at once: the deal around Anthropic's IPO and a fresh report from cloud company CoreWeave.
Micron is a major American manufacturer of memory for AI servers. Premarket refers to trading before the official session opens. An IPO is an initial public offering of shares on an exchange, and Anthropic is selling part of its shares directly to seven technology companies, including Micron.
This matters to traders for two reasons. A price gap has opened in a popular stock. And a specific date has appeared - November 18, when Anthropic's offering price will be announced.
How did the price move?
- $725.11 - Tuesday's close, down 1.10% (down $8.04 from $733.15 on Monday)
- $702.36-$745.64 - Tuesday's range
- +6% - Wednesday premarket according to Seeking Alpha, +6.5% according to Investing.com
- +1.5% at $736 - what Benzinga recorded earlier in the morning
The move gained momentum as the premarket progressed. By the market open, the gain was already four times the morning figure.
Why did the stock go up?
- The Anthropic deal. An updated IPO filing dated November 10 lists seven companies: AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC. They agreed to buy $26 billion of Class N shares at the offering price through a private transaction. These shares are not registered in the offering and are not subject to the underwriters' lock-up.
- The CoreWeave report. Third-quarter revenue was $3.66 billion, up 168%. The 2026 forecast was raised to $13.0-13.3 billion, and the order backlog grew to $132.5 billion from $55.6 billion a year earlier.
- Demand for memory. CoreWeave buys servers that contain Micron memory, so its forecast reads as demand for that memory. Chip exports from South Korea rose 331.2% in the first 10 days of November.
What does this mean for a trader?
The main point: a premarket gap gives a fast price move, but the entire opening jump falls into the daily drawdown on your account.
The rally is coming off a low base. The stock is still 42% below its yearly high of $1255; the yearly low was $192.59.
Not everyone has access to the stock. Individual US stocks are not available in every program: check the terms in the prop firm catalog or find a challenge for your market.
What's next?
- November 18 - Anthropic will announce its IPO price: 825 million shares at $70-78
- November 19 - trading in Anthropic shares begins
- $61.5 billion plus or minus $1.5 billion - Micron's own revenue forecast for the first fiscal quarter of 2027
November 18 is the nearest date for the entire AI sector. Mark it along with other events in the economic calendar.
Were you watching this premarket gap?
You saw the opening gap and calculated how much it would give you on your volume. Half the risk here is in the program rules: some prop firms offer only indices and don't allow trading individual US stocks. Somewhere entry is banned on the day of earnings, and the price jump at the open falls entirely into the daily drawdown. All of this is written in the rules before you pay for the evaluation. You have until November 18 to check the terms.