Why C3.ai Plunged in August
Shares of AI software company C3.ai (NYSE: AI) sank in August, falling 28.2% during the month, according to data from S&P Global Market Intelligence.
C3.ai pre-announced its fiscal first-quarter results, disclosing that it would miss its initial guidance by a whopping 30%. Needless to say, the market didn't take too kindly to the news.
On Aug. 8, C3.ai pre-announced that its fiscal first-quarter revenue would only be about $70.3 million, with adjusted (non-GAAP) operating losses of roughly negative $57.8 million. That's a massive miss, considering initial guidance for the quarter was about $104.5 million in revenue and negative $28.5 million in adjusted operating losses at the midpoint.
Source Fool.com
