2023-12-29 17:22:30 ET
C3.ai (NYSE: AI) stock saw significant sell-offs Friday -- the final day of trading in 2023. The company's share price ended the daily session down 5%, according to data from S&P Global Market Intelligence . The S&P 500 index closed out the day down roughly 0.3%, and the Nasdaq Composite index ended the session down roughly 0.6%.
While there wasn't any business-specific news spurring the pullback for C3.ai stock today, the company lost ground amid an uptick in bearish momentum for the broader market. Many investors likely opted to sell stocks today for tax purposes, and it's probable that this catalyst resulted in C3's shares losing ground.
After a brutal stretch of bearish trading in 2022, the stock market came roaring back in 2023. The S&P 500 index's level climbed 24.2% across this year's trading. Meanwhile, the even more growth-oriented Nasdaq Composite index closed out the year up 43.4%.
For further details see:
C3.ai Stock Fell on 2023's Final Trading Day: Is It Time to Buy?