C3Ai Stock Hits Record Low After Post-Earnings Bear Notes

BofA Global downgraded AI to "underperform" from "neutral"

Deputy Editor
Dec 2, 2021 at 1:37 PM
facebook X logo linkedin


Artificial Intelligence (AI) software stock C3Ai Inc (NYSE: AI) is taking a dramatic fall today, down 13% to trade at $29.42 at last check -- a new record low. After the close yesterday, the company reported narrower-than-expected fiscal second-quarter losses per share as well as higher-than-anticipated revenue, but analysts are blasting AI with bear notes. 

BofA Global Research downgraded the stock to "underperform" from "neutral," with a price-target cut to $40 rom $65, citing the "disappointing" results. No fewer than five other analysts slashed their price targets as well, including Piper Sandler to $44 from $78.

Since its initial public offering (IPO) on Dec. 8 of last year, AI hasn't experienced a very positive run, with the stock down 78.6% year-to-date. More recently, the stock is fresh off three-straight monthly losses, and broke below several short-term moving averages, as well as support at the $45 level, in mid November. It's also worth noting that AI has just landed on the Short Sale Restricted (SSR) list. 

Options traders are targeting AI at four times the intraday average, with options volume pacing for the 99th percentile of its annual range. So far, 25,000 calls and 13,000 puts have been traded. New positions are being opened at the December 30 call and December 25 put, which are both seeing a great deal of activity. 

 
 
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI