3 Things About C3.ai Stock That Smart Investors Know
Most investors likely know three basic things about the enterprise AI software company C3.ai (NYSE: AI). First, its founder and CEO Thomas Siebel previously founded Siebel Systems, and sold it to Oracle (NYSE: ORCL) for $5.85 billion in 2006. Second, its AI algorithms -- which can either be integrated into an organization's existing software or accessed as stand-alone services -- can be used to streamline operations, cut costs, improve employee safety, and even detect financial fraud.
Lastly, C3.ai was growing like a weed prior to its IPO in Dec. 2020, and its stock jumped from its offering price of $42 to $100 on its first trade. It would go on to close at an all-time high of $177.47 that same month. But today, its stock trades at about $13. It quickly lost its luster as rising interest rates drove investors away from pricier and unprofitable growth stocks.
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