Nebius Group N.V. (NASDAQ:NBIS) stock is trading higher on Wednesday. The upward price movement follows a continuation of momentum from Tuesday, driven by the successful closing of its Eigen AI acquisition and official confirmation of the company’s upcoming addition to the Nasdaq-100 Index.
The Nasdaq is up 0.47% while the S&P 500 has gained 0.05%.
Eigen AI Acquisition Finalized
The Amsterdam-headquartered AI cloud company announced that it completed its acquisition of Eigen AI, an inference and model optimization firm.
According to the announcement, the transaction was initially disclosed on May 1 and officially closed on June 10 after receiving necessary regulatory approvals and satisfying customary closing conditions.
The transaction expands the company’s full-stack artificial intelligence footprint.
Nasdaq-100 Index Inclusion Confirmed
The stock is experiencing upward momentum ahead of Nasdaq's quarterly index reconstitution. Nebius Group will officially join the Nasdaq-100 Index before the market opens on June 22.
The inclusion sparked notable media attention. On CNBC, market commentator Jim Cramer explicitly called the index change a "big deal."
Short Interest Data
Short interest in Nebius declined during the latest reporting period, falling to 44.30 million shares from 45.10 million shares. The current short position represents 20.73% of the company’s public float.
Based on the average daily trading volume of 17.32 million shares, it would take approximately 2.56 days for short sellers to cover their positions, a metric known as the days-to-cover ratio.
Critical Levels To Watch for NBIS Stock
NBIS is stretched above its key moving averages, trading 23.2% above the 20-day SMA ($229.60) and 48.4% above the 50-day SMA ($190.69), which is classic extended uptrend behavior. Longer term, it's also 130.3% above the 200-day SMA ($122.88), underscoring how steep the trend has been.
The trend structure remains bullish with the 20-day SMA above the 50-day SMA and the 50-day SMA above the 200-day SMA, a setup that typically keeps dip-buyers active.
From a levels perspective, the stock is now trading above the prior 52-week high ($278.84), turning that area into a key breakout retest zone traders will watch.
- Key Resistance: $283.11
- Key Support: $278.84
NBIS Stock Price Activity: Nebius Group shares were up 6.84% at $283.22 at the time of publication on Wednesday, according to Benzinga Pro data.
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