Shares of Artificial Intelligence Tech Solutions (OTCMKTS:AITX) are trending on Monday, currently up 13%. At today’s high, AITX stock was up more than 58%.
The action follows Friday’s strong rally, where shares gained about 18%. In all, the stock rallied 33% last week on strong volume, changing hands almost 267 million times. Notably, the stock has almost eclipsed that figure today. That’s as volume passes 260 million shares.
RADDOG’s TV Debut
The company and its Robotic Assistance Devices (or RAD) subsidiary have “announced that complete details, features and specification of RADDOG 2LE will be announced the day after the quadruped robot premieres on the all-new TV series ‘Stars on Mars,’ which will debut on FOX on Monday, June 5 (8:00-9:00 PM ET/PT).”
The unscripted reality TV show includes former NFL players Richard Sherman and Marshawn Lynch, actor William Shatner, Lance Armstrong and eight other “celebronauts.” They will be transported “to a simulated Martian habitat in the barren desert of southern Australia where they must coexist and work together for the sake of survival.”
A day later on June 6, the firm will formally introduce RADDOG 2LE. That will include “demonstrations available for law enforcement agencies.”
Breaking Down AITX Stock
If you aren’t familiar with AITX stock, don’t beat yourself up over missing the recent rally. The stock trades over the counter, and its current stock price is just over a penny per share. Lastly, it commands a market capitalization of just under $60 million.
The company was founded in 2016 and is based in Ferndale, Michigan. On the plus side, management can say that it’s not simply hopping on the bandwagon and trying to ride the coattails of other hot AI stocks. Formerly known as “On The Move Systems,” the company actually changed its name to Artificial Intelligence Tech Solutions in 2018.
Shares have already generated their highest single-session trading volume since Jan. 19, 2021. With the show on June 5 and the demonstration on June 6, it’s quite possible for a name like AITX to remain in the spotlight in the short term.
With its high trading volume, low stock price, and a name that includes “Artificial Intelligence,” active momentum traders may want to keep an eye on this stock going forward. Or at least for the next few days.
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On the date of publication, Bret Kenwell 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.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.
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