C3.ai Inc. [AI] moved up 40.56: Why It’s Important

C3.ai Inc. [NYSE: AI] gained 40.56% or 37.51 points to close at $130.00 with a heavy trading volume of 22803593 shares. The company report on December 9, 2020 that C3.ai Announces Pricing of Initial Public Offering.

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C3.ai, a leading enterprise AI software provider for accelerating digital transformation, announced the pricing of its initial public offering of 15,500,000 shares of its Class A common stock at a price of $42.00 per share. C3.ai has granted the underwriters a 30-day option to purchase up to an additional 2,325,000 shares of Class A common stock at the initial public offering price less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by C3.ai, are expected to be $651 million, excluding any exercise of the underwriters’ option to purchase additional shares.

The shares are expected to begin trading on the New York Stock Exchange on December 9, 2020, under the ticker symbol “AI” and the offering is expected to close on December 11, 2020, subject to customary closing conditions.

If we look at the average trading volume of 24.81M shares, AI reached to a volume of 22803593 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about C3.ai Inc. [AI]:

The Average True Range (ATR) for C3.ai Inc. is set at 32.11, with the Price to Sales ratio for AI stock in the period of the last 12 months amounting to 76.02.

Trading performance analysis for AI stock

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum.

C3.ai Inc. [AI]: A deeper dive into fundamental analysis

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