Why C3.ai Stock Plunged Today
Shares of artificial intelligence (AI) software company C3.ai (NYSE: AI) were falling on Monday, down 7% as of 11:03 a.m. ET. Those invested in the stock since the beginning of the year likely aren't complaining, though, as C3.ai has still more than tripled in 2023, despite today's pullback.
However, those extraordinary gains might be the issue, with one major Wall Street firm calling for an end to the "AI bubble."
Today, strategists at Morgan Stanley made an interesting call on AI stocks that might be considered in a bubble. While the strategist Edward Stanley centered his arguments around Nvidia (NASDAQ: NVDA) and some AI exchange-traded funds (ETFs), C3.ai could be considered even more speculative than either Nvidia or any ETF, since its stock has taken off even as its revenue has been stagnant thus far this year.
Source Fool.com
