C3.ai (NYSE: AI) was one of the hottest tech IPOs of 2020. The developer of enterprise artificial intelligence (AI) algorithms went public at $42 on Dec. 9, and its shares opened at $100 before soaring to an all-time high of $177.47 on Dec. 22.

But today, C3's stock trades at about $29. A $10,000 investment in its IPO would have briefly blossomed to $42,255 before withering to about $6,900 today. The bulls lost interest in C3 for three simple reasons: Its revenue growth slowed down, it racked up steep losses, and rising interest rates popped its bubbly valuations. Its customer concentration issues and abrupt business model changes raised even more red flags.

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Source Fool.com