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Over the past two trading days, Oracle's (ORCL.US) stock price has taken a significant hit, plummeting by more than 10%. This downward spiral persisted on Friday, with the share price dipping below the $300 mark. The root of the market's unease lies in Oracle's perceived over-reliance on a single client: OpenAI.
Gil Luria, a seasoned analyst at Wedbush Securities, pointed out that the once-strong optimism surrounding Oracle's order backlog has been severely dented. The reason? Almost all the positive news in this regard seems to be emanating from OpenAI. Given this situation, Luria has maintained a 'neutral' stance on Oracle's stock. He also cautioned investors to stay vigilant about the potential risks tied to having such a concentrated client base.
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