Dropbox slides after Citi downgrade to Sell over AI growth concerns
-4.56% to $32.66 from $34.22
What moved DBX
- Citi downgraded Dropbox to Sell from Neutral and cut its price target to $29 from $33.
- The downgrade cited concerns over Dropbox’s growth outlook as the company navigates its AI-driven storage transition.
- Short interest in Dropbox stood at about 12% of its float, up more than 50% from a year earlier, pointing to elevated bearish positioning.
Sources: Investing.com