Today, shares of penny stock Artificial Intelligence Technology Solutions (OTCMKTS:AITX) are soaring. Currently, shares of AITX stock are up approximately 13% at the time of writing. However, this stock peaked at a gain of 39% this morning on heavy volume.
Today’s outsized move in AITX stock appears to be a function of a number of factors. Risk-on sentiment in the market today has picked up, with broader indices markedly higher. Concerns about higher interest rates and Fed tapering have been pushed aside as investors look through the pandemic to the future.
Additionally, hypergrowth segments such as artificial intelligence (AI) and robotics continue to be focal points for growth investors. Indeed, AITX stock remains a micro-cap play in this space. The company’s market capitalization still sits at only $157 million after today’s rise. However, investors looking to get in on the ground floor of some incredible growth appear to be willing to gravitate toward penny stocks today.
Let’s dive into a few things investors may want to know about this company.
What to Know About AITX Stock
- Artificial Intelligence Technology Solutions is a company focused on AI and robotics solutions for its customers.
- Additionally, the company offers frontend and backend software solutions for its systems.
- The company’s RAD division produces stationary workflow automation solutions. These streamline organizational processes to amplify customers’ productivity.
- Furthermore, Artificial Intelligence’s RAD-M division provides mobile workflow automation services, much in the same manner.
- Finally, the company’s RAD-G division focuses on autonomous remote services. This is the company’s high-growth software division.
- The company signed a partnership agreement with Ghost Robotics yesterday.
- Accordingly, investors appear to be bullish on the growth prospects of this speculative stock.
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On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.