Jun. 8 at 11:55 PM
$CHAI This isn't an AI company:
Investors wanted to buy shares in the revolutionary startup Chai Discovery (the one with the new contract with Pfizer). Because that company is private and not publicly traded, the crowd flocked to the only "CHAI" they saw on their brokerage apps.
So they bought shares of Core AI Holdings Inc. (a Miami-based penny stock that has historically focused on mobile gaming and infrastructure, and recently warned in its financial reports about liquidity problems and a
$31 million deficit).
In short: Yes, the stock market rally involved Core AI Holdings, but the reason for the rally lies entirely outside of the company. It's a classic case of stock market anomaly and blind pursuit of a name.
