Is BigBear.ai Stock a Buy Now?
BigBear.ai (NYSE: BBAI), a developer of AI modules for edge networks, has been a volatile investment over the past three and a half years. It went public by merging with a special purpose acquisition company (SPAC) on Dec. 7, 2021. Its stock opened at $9.84 on the first day and eventually closed at a record high of $12.69 on April 13, 2022. But by Dec. 29, 2022, it had sunk to its lowest post-merger closing price of $0.63 per share.
Like many other SPAC-backed start-ups, BigBear.ai overpromised and underdelivered. Prior to its merger, it claimed it could triple its revenue from $182 million in 2021 to $550 million in 2024. But in reality, its revenue grew from just $146 million in 2021 to $158 million in 2024.
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Source Fool.com
