Why C3.ai, Salesforce, and Datadog Were Down Big Today
Shares of cloud and artificial intelligence (AI)-related software stocks C3.ai (NYSE: AI), Salesforce (NYSE: CRM), and Datadog (NASDAQ: DDOG) were plunging today, down 6%, 3.6%, and 6.5%, respectively, as of 3:03 p.m. ET.
There wasn't any material news for these individual stocks today, although two of them did receive lukewarm reviews from analysts earlier this week. Of note, macroeconomic concerns are front and center, with war in the Middle East and higher interest rates weighing on sentiment.
Moreover, these stocks flew higher earlier this year on enthusiasm for artificial intelligence applications. But as results from and Microsoft showed last night, the AI spoils aren't being distributed evenly nor broadly just yet.
Source Fool.com
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