Down 41% From Its 52-Week High, Can C3.ai Stock Turn Things Around?
In the early days of the investor hype surrounding artificial intelligence (AI) stocks last year, C3.ai (NYSE: AI) looked to be one of the odds-on favorites to do well. And while 2023 did turn out to be a good year for the tech stock -- it rallied 157% -- the stock price movement has slowed drastically for several months largely because the company's financials haven't been all that impressive.
C3.ai's stock isn't anywhere near its 52-week high of $48.87. It's down 41% from when it hit that peak last summer. Can it turn things around, or is the stock destined to head lower?
Investors were bullish on C3.ai's prospects last year because this was a company that provided AI solutions for a variety of different industries. There was the expectation that its growth rate would accelerate thanks to the rising popularity of ChatGPT and AI models.
Source Fool.com
