Snowflake (NYSE: SNOW) and C3.ai (NYSE: AI) were two of the market's hottest tech stocks in 2020. Unfortunately, both stocks sputtered out this year as the market lost its appetite for pricey growth stocks.
Snowflake's stock has declined about 15% this year, while C3.ai's stock has tumbled nearly 60%. Both companies are still expanding, but their high price-to-sales ratios and lack of profits made them unappealing investments as the market rotated from growth to value stocks.
Image source: Getty Images.
For further details see:
Can Snowflake and C3.ai Help Each Other Impress Investors Again?