C3.ai Scored an Earnings Beat. The Stock Drops on CEO News.
C3.ai stock fell on Tuesday despite the AI software provider’s better-than-expected financial results released late Monday. The drop came after the company’s 10-Q showed that CEO Thomas Siebel plans to sell stock up to 12.8 million shares under a 10b5-1 plan. For its quarter ending in October, the company reported a loss of 6 cents a share, compared with the consensus forecast for a 16-cent loss among Wall Street analysts tracked by FactSet.