Pouring Cold Water on the AI Hype! C3.ai Stock Falls After Company Withdraws Profit Forecast
$C3.ai(AI.US$ Ahead of the earnings report released this Wednesday, C3.ai, touted as an AI concept stock, had seen its stock price surge by over 180% this year, far outpacing the broader U.S. market. However, recent gains have tapered off, with a modest 20% increase over the past six months and a significant 10% drop in the last month alone.
Data from the financial data platform S3 Partners reveals that, measured by the percentage of shares being shorted, C3.ai is currently one of the most heavily shorted tech stocks in the United States. As of this Wednesday, approximately 33% of the company's outstanding shares were being utilized in short-selling strategies.
Q1 Revenue Beats Expectations by 11%, but Losses and Contract Sales Fall Short
Anticipating Operating Losses of Up to $100 Million for the Fiscal Year, One-Third Higher than Previous Guidance
Due to increased investment in generative AI products, profitability is not expected to be achieved in the fourth quarter of this fiscal year.
Due to increased investment in generative AI products, profitability is not expected to be achieved in the fourth quarter of this fiscal year.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Video Sharer
news porter, welcome and respect all view~
1916Followers
33Following
5183Visitors
Follow