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  "docSlug": "72469199073c",
  "documentTitle": "C3.ai, Inc. (AI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-02-16 00:00:00",
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      "text": "We believe C3 is poised to reset expectations as sales fail to materialize, losses balloon, and dilution increases",
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      "text": "We believe C3 is poised to reset expectations as sales fail to materialize, losses balloon, and dilution increases.",
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      "text": "downside risk: 40% - 50%",
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      "kind": "paragraph",
      "text": "A Poor Risk / Reward As We Believe Revenue Expectations Will Be Reset Lower. Cash Burn Will Increase. Material Dilution Will Persist. 40% - 50% Intermediate Downside Risk. Long-Term Potential That C3 Fetches Little More Than Its Cash on Balance Sheet",
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      "text": "Two years ago, yes, there would've been a risk because there was not so many on the planet providing services like this; today, I don't think this is a risk. It's unviable, unless it goes down to a $200 million market cap and someone will start moving on it and say, yes I like it, but for more than that, I would not touch it. — Former employee",
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      "kind": "title",
      "text": "Spruce Point Estimates 40% - 50% Downside Risk To C3.ai (NYSE: AI) Share Price: ($12.85 - $15.40)",
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      "evidence": "Frames C3.ai management and business model as the primary antagonist to shareholder value.",
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