CXM - 2 AI Stocks Taking It on the Chin Thursday
2023-12-07 10:05:11 ET
The Nasdaq Composite (NASDAQINDEX: ^IXIC) has soared in 2023, and excitement about artificial intelligence (AI) has played a key role. Many of the biggest companies in the stock market have ties to AI, and the massive upticks in demand that they've seen have led investors to bid their share prices to new heights.
However, AI companies still have to deliver solid financial results in order to keep their shareholders optimistic. When a company falls short of high expectations, its share price can suffer big declines. That's what's happening with AI stocks C3.ai (NYSE: AI) and Sprinklr (NYSE: CXM) on Thursday morning, and investors are taking a closer look at their prospects for tapping into long-term AI growth trends.
Shares of C3.ai fell 10% just after the open of regular trading on Wall Street Thursday morning. The enterprise AI application software specialist reported fiscal second-quarter financial results for the period ended Oct. 31 that didn't show the level of reaccelerating growth that investors had wanted to see.
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2 AI Stocks Taking It on the Chin Thursday