11X Stock Market Accelerator Summit

Eric Fry reveals how an A.I.-based secret could make you up to 11 times RICHER on the same stocks you’re investing in now… without using options, leverage, or anything risky.

Wed, September 27 at 8:00PM ET

Why Is BYND Cannasoft (BCAN) Stock Up 10% Today?


  • BYND Cannasoft Enterprises (BCAN) stock is climbing on artificial intelligence (AI) news.
  • That includes a patent for a sex toy that uses AI.
  • It would make use of machine learning to better satisfy the user.
BCAN Stock - Why Is BYND Cannasoft (BCAN) Stock Up 10% Today?

Source: shutterstock.com/local_doctor

BYND Cannasoft Enterprises (NASDAQ:BCAN) stock is on the rise Thursday after the company revealed a patent for AI tech in the U.S.

The patent has to do with a device for treating certain phenomena in female sexual organs. The company notes that this patent is connected to its plan to break into the multibillion-dollar “Sextech” industry.

Here’s a quick description of what the device will do and how AI will play a part in it, as stated in a news release:

“The device utilizes an artificial intelligence and machine learning algorithms to control the operational parameters of the device based on physiological parameters of the user. The device performs operations including stimulating the sexual organs based on user preferences as well as real time data indicative of satisfaction level of the user monitored by sensors.”

BYND Cannasoft Enterprises notes that its entry into the Sextech market will be through its Zigi Carmel Initiatives & Investments subsidiary. While the market is currently worth $30 billion, experts predict it will be worth $52.7 billion in 2026.

How This Affects BCAN Stock

Considering AI is a hot topic among traders lately, it makes sense that BCAN stock is gaining on its patent news. It’s brought extra interest to the company’s shares, with some 1.8 million traded as of this writing. That’s well above the 25,000 its trade each day on average.

BCAN stock is up 9.7% as of Thursday morning.

There’s even more stock market news traders will want to know about below!

We’ve got all of the biggest stock stories investors need to read about on Thursday. That coverage includes why shares of Credit Suisse (NYSE:CS), AMC Entertainment (NYSE:AMC), and Taiwan Semiconductor (NYSE:TSM) stock are moving today. You can read all of that at the following links!

More Thursday Stock Market News

On the date of publication, William White 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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/03/why-is-bynd-cannasoft-bcan-stock-up-10-today/.

©2023 InvestorPlace Media, LLC