We recently compiled a list of the 10 Firms Shine Amid Market Slump. In this article, we are going to take a look at where Tempus AI Inc. (NASDAQ:TEM) stands against the other stocks.
Ten companies kicked off this week’s trading on a positive note, defying a broader market pessimism amid growing trade tensions among the US, Mexico, China, and Canada over the retaliation of tariffs on each other’s goods.
On Monday, the Dow Jones lost another 0.28 percent, while the S&P 500 and the Nasdaq Composite both registered steep declines of 0.76 percent and 1.20 percent, respectively. The slump came following President Donald Trump’s announcements that he would slap a 25-percent tariff on Canadian and Mexican goods, while a special 60-percent rate would be taxed on Chinese products.
Ten companies under mixed sectors defied a broader market downturn, leading the charge among market advancers. In this article, we will examine which companies performed well and the factors driving their success.
The list of top advancers only considered the companies with at least $2 billion in market capitalization and $5 million in daily trading volume.
A computer screen showcasing Artificial Intelligence and Machine Learning algorithms at work.
Tempus AI Inc. (NASDAQ:TEM)
Tempus AI Inc. (NASDAQ:TEM) grew its share prices by 7.23 percent on Monday to end at $61.54 apiece as investor sentiment was fueled by news that it completed the acquisition of Ambry Genetics, a recognized leader in genetic testing that aims to improve health by understanding the relationship between genetics and disease.
The $600 million acquisition included $375 million in cash payments and $225 million in shares. Of the latter, $100 million will be subject to a lock-up agreement for one year following the transaction.
Tempus AI said Ambry Genetics will continue operations as a wholly-owned subsidiary of Tempus under its current leadership team.
“This acquisition complements our strategy of leveraging diagnostics and data to drive innovation, further strengthening our ability to deliver cutting-edge solutions to clinicians, patients, and life sciences companies,” said Eric Lefkofsky, founder and CEO of Tempus AI. “We are excited to welcome Ambry to the Tempus team as we work together to improve patient outcomes and transform treatment journeys through the power of technology.”
Overall TEM ranks 4th on our list of the stocks that shone amid market slump. While we acknowledge the potential of TEM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than TEM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
Disclosure: None. This article is originally published at Insider Monkey.
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