Why Artificial Intelligence (AI) Stock C3.ai Was Edging Higher This Week
A midweek bump lifted the share price of artificial intelligence (AI) solutions developer C3.ai (NYSE: AI) over the past few days. Some investors took the opportunity to book profits on the stock, and the sell-off sent the price down again. It was still in positive territory as of early Friday morning, though. According to data compiled by S&P Global Market Intelligence, week to date at that point it was up by almost 1%.
AI is still an area of high investor interest these days, although the excitement may be dying down a bit now that many associated stocks have rallied substantially in recent weeks to hit very lofty prices.
C3.ai is among the AI titles that are looking rather pricey because of that trend, but it's still garnering plenty of attention. A new follower in the professional financial ranks emerged on Tuesday, with Northland Capital Markets analyst Mike Latimore initiating coverage of the stock.
Source Fool.com
