2024-03-10 11:10:00 ET
C3.ai (NYSE: AI) started last year red hot as a top growth stock thanks to surging interest in artificial intelligence (AI). Not only did the company have a ticker symbol to go along with the hot trend, but it's also a provider of AI solutions, making it a prime target for growth investors.
But toward the latter half of the year, the excitement surrounding C3.ai stock cooled significantly. During the last six months of 2023, the stock fell 21% as investors grew worried about whether the company would actually benefit from an uptick in demand for AI products and services, as its results weren't all that impressive.
C3.ai recently posted its fiscal 2024 third-quarter numbers, which restored investors' confidence with the AI stock jumping following the earnings release. Is this just the start of a much bigger rally for C3.ai? Did the company prove the short-sellers betting on its drop wrong with its latest results?
For further details see:
Did C3.ai's Improved Q3 Results Do Enough to Prove the Short-Sellers Wrong?