Why Artificial Intelligence Stock Tempus AI Is Tumbling Today
An investment management firm known for short-selling the stocks it speaks against is now targeting a high-risk, high-reward stock purchased by a high-profile politician.
Shares of artificial intelligence (AI) company Tempus AI (NASDAQ: TEM) are down to the tune of 15.6% as of 11:13 a.m. ET on Wednesday, upended by a warning from investment management outfit Spruce Point Capital Management.
Just consider the source, and the fact that Spruce Point has something to gain by Tempus AI stock's pullback.
If the name rings a bell, it may be because California Representative Nancy Pelosi disclosed a bullish stake in the company in January of this year, just months after its June 2024 initial public offering. The company's AI-powered platform helps pharmaceutical developers optimize the creation, testing, and commercialization of new drugs, saving time and money.
