Why Tempus AI, Inc. (TEM) Skyrocketed On Monday

We recently published a list of These 10 Stocks Blew Past Expectations. In this article, we are going to take a look at where Tempus AI, Inc. (NASDAQ:TEM) stands against other top-performing stocks on Monday.

Tempus AI extended its winning streak to a third consecutive day on Monday, jumping 15.02 percent to close at $63.47 apiece as investors snapped up shares after earning a “buy” recommendation despite being hit by a negative short-seller report.

On Monday, TD Cowen maintained its “buy” recommendation on Tempus AI, Inc.’s (NASDAQ:TEM), pricing it at $62, albeit lower than its latest closing price.

The recommendation followed Spruce Point Capital’s report on the company, saying it sees a “50 to 60 percent potential long-term downside and market underperformance risk.”

“We believe the Tempus equity growth story is built on hype and appeal to retail investors that it is an exciting and disruptive technology play with AI appeal, which could have the next Tesla or Nvidia-type inflection,” Spruce Point was quoted as saying.

For its part, Tempus AI, Inc. (NASDAQ:TEM) said that it would not respond to a report “riddled with hypotheticals and inaccuracies.”

“We remain focused on delivering shareholder value, taking advantage of the enormous opportunity of bringing AI to healthcare, and helping patients live longer and healthier lives,” it said.

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Disclosure: None. This article is originally published at Insider Monkey.