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AI.US
id: 231
On August 31, 2022, C3.ai released financial results and unexpectedly announced a business model change " transitioning from a subscription model to a consumption-based pricing model".
Furthermore, the Management significantly cut the company's guidance, projecting full-year revenue in a range of $255 million to $275 million, down from its previous range of $308 million to $316 million.
On this news, the price of C3.ai stocks declined more than 19%, and the Company lost about $ 365 million of its capitalization on September 01, 2022, seriously damaging its investors.
Given the rather unexpected developments and forecasts, there are grounds for suspicions that the Company's management did not conduct business in good faith and allowed gaps in informing its shareholders.
Alleged Offence
Mismanagement
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Negligence
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
31 August 2022
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C3 Ai Inc

C3.ai, Inc. operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3...

    Ticker
    AI.US
    ISIN
    US12468P1049
    CIK
    1577526
    Sector
    Technology
    Industry
    Software - Application
    Country
    USA
    Address
    1400 Seaport Boulevard, Redwood City, CA, United States, 94063