Veteran tech investor names 3 AI-linked stocks to short right now

[Pelican Press 0]

Veteran tech investor names 3 AI-linked stocks to short right now

This is the hidden content, please

• Sign In
• or
• Sign Up

was created, Alphabet was created, Meta was created. But most of those companies with their Internet products, a lot of them went bankrupt. I see the same thing here. There’ll be some big winners, but a lot of these companies that say that they [have] AI stories today are going to go bust.” Meeks is so bearish on them that he has shorted some of these AI-linked stocks and is even looking for more. Short sellers aim to profit by selling borrowed shares and buying them back later at a lower price. “Investors are wrongfully driving up stocks of AI pretenders, which are mostly creating apps using AI that are yet unproven & may never be that profitable,” he added. Meeks named three companies that are ripe for shorting right now: music-tracking app SoundHound , BigBear.ai , and C3.ai . SoundHound is up around 300% year-to-date, while BigBear.ai has risen 10%, and C3.ai is down 1.5% in the same ******* — though it’s up 31% from a year ago. He has shorted the first two and says he’s profited from those trades. “I’ve been successful shorting BBAI & SOUN the shares of which have been boosted with everything else even remotely related to AI, but they’re ******* companies. ADBE’s disappointing quarterly guidance announced last night was further proof of “where’s the revenue growth in AI?” “I’m looking for more stocks to short based on my contrarian AI investment thesis,” he said.

This is the hidden content, please

• Sign In
• or
• Sign Up

Stock markets,S&P 500 Index,C3 ai Inc,BigBear.ai Holdings Inc,SoundHound AI Inc,Advanced Micro Devices Inc,NVIDIA Corp,Super Micro Computer Inc,business news
#Veteran #tech #investor #names #AIlinked #stocks #short

This is the hidden content, please

• Sign In
• or
• Sign Up