WDAY is trading 5% up at $124.73 as investors appear to see AI-related business model risks as priced in following a significant year-to-date decline.
- Shares are rebounding despite a downgrade from Citigroup to Neutral, driven by bargain-hunting and short-covering.
- The stock has fallen roughly 40% this year, prompting a recovery even as the broader market faces pressure.
- Market participants are increasingly viewing the recent sharp selloff tied to AI existential risks as overextended.