Why C3.ai Stock Zigzagged on Monday
Shareholders of artificial intelligence stock C3.ai (NYSE: AI) awoke to a rude surprise this morning as news of a "short" report drove the stock down 4.6% through 9:45 a.m. ET. But there's good news for C3.ai investors as well.
As quickly as C3 fell out of bed this morning, it picked itself right back up and headed higher. As of 10:45 a.m., the stock has recovered all of its losses -- and is even up 4.8%!
So what exactly is causing all the commotion at C3.ai this morning? Well, it goes like this. In a report broadcast on Twitter today, hedge fund and famed short-seller Kerrisdale accused C3.ai of being a "no-growth, cash-burning industry flop" -- and, as if that weren't enough, Kerrisdale then proceeded to elaborate:
Source Fool.com
