3 Things About C3.ai That Smart Investors Know
C3.ai (NYSE: AI) has been the source of increased interest thanks to its ticker symbol: AI. With interest in artificial intelligence (AI) stocks ramping up, C3.ai stock was a clear benefactor, as the stock more than tripled at the beginning of 2023. Then, a short report and letter to C3.ai's auditor from Kerrisdale Capital caused the stock to tumble. It now sits roughly 50% down from its 2023 high but is still up an incredible 55% for the year.
Clearly, there's a lot going on with C3.ai's stock. Here are a few things investors should understand before considering a position.
The short report on C3.ai essentially focuses on its relationship with oil services company Baker Hughes (NASDAQ: BKR). Kerrisdale argues that C3.ai has a failing relationship with Baker Hughes, which is a problem because the company accounts for more than 30% of its sales.
Source Fool.com
