Why C3.ai Stock Is Plummeting Today
C3.ai (NYSE: AI) stock is losing ground in Thursday's trading as the market digests the impact of Nvidia's (NASDAQ: NVDA) recent second-quarter results. C3.ai's share price was down 11.1% as of 2:30 p.m. ET, according to data from S&P Global Market Intelligence.
For comparison, Nvidia's stock was up just 3.2% despite Q2 results that blew off the doors of Wall Street's expectations. Meanwhile, the S 500 index was down roughly 0.9%, and the Nasdaq Composite index was down roughly 1.2%.
While there doesn't appear to be any business-specific news pushing C3.ai stock lower today, it's not surprising to see the company's share price losing ground. Investors were waiting to see how the market would respond to Nvidia's Q2 report in order to gauge how strong bullish momentum in the broader market might be going forward.
Source Fool.com
