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C3.ai shares rebound after five-day slump, still below 52-week high

C3.ai shares rebound after five-day slump, still below 52-week high © Reuters.

Shares of C3.ai (NYSE:) Inc. experienced a significant increase of 3.34% to $24.42 on Wednesday, ending a five-day losing streak in a mixed trading session that saw minor shifts in the and Dow Jones. Despite the uptick, the company’s share price remains significantly below its 52-week high of $48.87, which was recorded on June 16, 2022.

In the trading session, C3.ai outperformed rivals Microsoft Corp (NASDAQ:)., and Alphabet (NASDAQ:) Inc.’s Class C and Class A shares, all of which reported only marginal gains. However, despite the positive performance of C3.ai’s shares, the trading volume of 7.6 million fell short of its 50-day average volume of 13.4 million, according to data from Automated Insights.

The recent rebound for C3.ai comes after a period of consistent decline, with the company’s shares having suffered a five-day losing streak prior to Wednesday’s rise. The company’s current share price is still considerably lower than its peak in mid-June last year, indicating that it has yet to fully recover from subsequent market fluctuations.

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