Q: Why did WSP price drop dramatically March 27, 2024 to June 3, 2024, and then bounce back up? Also does WSP incorporate AI into their engineering methodology?
5i Research Answer:
WSP was the subject of a 'short attack' earlier this year by Spruce Point, which caused a sharp (through fairly short term) drop in its shares. WSP in its conference call has noted 'AI will change our industry' and it 'expects profitability will improve'. Its clients are shifting heavily to AI and it has already had some contracts related to data centres.