1 Growth Stock Down 85% to Buy Now and Hold

C3.ai (NYSE: AI) is relatively new to the public markets. It listed on the New York Stock Exchange in December 2020 at $42 per share and promptly soared 283% by the end of that month. But the company has struggled to meet investors' expectations on revenue growth and profitability, which has since eroded all of those gains (and then some). C3.ai stock trades at just $22.76 today, a steep 85% drop from its all-time high.

The company is operating in a brand-new industry -- arguably one it helped create -- called enterprise artificial intelligence (AI). It develops customizable AI applications that can be tailored to the needs of almost any company, making the advanced technology more accessible than ever before. Here's why the stock could be a great addition to your long-term portfolio at this heavily discounted price.

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Source Fool.com