BigBear.ai (NYSE: BBAI) has been a wildly volatile stock ever since its public debut. The developer of enterprise AI software went public by merging with a special purpose acquisition company (SPAC) on Dec. 8, 2021. Its shares opened at $9.84 on the first day, hit an all-time high of $12.69 on April 13, 2022, but now trade at about $1.50.

Like many other SPAC-backed tech companies, BigBear.ai failed to meet its own lofty growth estimates. Rising interest rates also crushed its valuations while casting a harsh light on its persistent losses and messy balance sheet.

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Source Fool.com