C3.ai, Inc. AI shares are trading lower on Monday. The stock has lost more than 16% in the last five days, but remains up more than 100% over the last three months. Here's a look at what to know:
What To Know:
According to a report from Bloomberg, Baker Hughes Company BKR sold more than 2.2 million shares in the second quarter. The sale represents approximately one-third of its stake in C3.ai and followed another major sale by of AI stock by Baker Hughes during the first quarter of the year.
Baker Hughes, one of the world's largest oil field contractors, is a critical customer of C3.ai. The companies created a joint venture alliance, BakerHughesC3 AI, combining C3.ai’s AI software with the energy technology of Baker Hughes.
C3.ai has attracted the attention of retail investors and short-sellers alike. AI is currently a top trending ticker on Yahoo! Finance, and 33.02% of available shares are being sold short, according to data from Benzinga Pro.
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AI Price Action: According to Benzinga Pro, C3.ai shares are trading more than 6% lower at $35.48 at the time of publication.
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