C3.ai Inc.’s stock AI was down 1.5% in premarket trades Wednesday, pulling back after ending Monday’s session up 2.9%. Shares of the artificial intelligence software provider were on a five-day winning streak, their longest since a six-day winning streak that ended on May 10, 2023. C3.ai’s stock has skyrocketed 235% in 2023, outpacing the S&P 500 index’s SPX gain of 16.1%. Last week Oppenheimer initiated coverage of C3.ai with a perform rating. “We recognize the potential for C3.ai to see viral growth for its AI platform,” wrote Oppenheimer analyst Timothy Horan, in a note. “This has not been proven yet, but it likely will.”
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