Yes, OTC stocks have really taken a beating. And trying to figure out why AITX made such a big run-up in the recent past, I asked Perplexity-AI and Chat GVT to do their analysis. Artificial Intelligence also shared why AITX is undergoing a current pullback since late May, and exactly why that is happening and when you can expect that to reverse. Penny stocks are very risky, and I only invest money in them that I can afford to lose. High risk for high potential rewards. So let’s go.
AITX Stock Performance
Chart Analysis
Let’s take a quick look at the AITX chart. This chart is actually in E-Trade, and you can see that it started turning green around in April. You can see it had a big run-up in December, and then a pullback, another one later in December, and a pullback, and then this big run-up starting in April of this year and its current level. But prior to that, you can see AITX way back in 2021 had a huge spike, and it’s been trending down consistently for quite some time until the recent past. Had some spikes in 2022, 2023. It’s real popular among a lot of day traders that like to trade OTC stocks.
Recent Developments
Here’s a little closer view of 2024. The significant run-up in the stock price of AITX, artificial intelligence technology solutions, over the past six months can be attributed to several key developments and positive news surrounding the company. These factors include advancements in product offerings, strategic financial decisions, and increased visibility in the media and entertainment industry. I know Steve Reinhardt is really good at getting the news out there.
Financial Strategies and Media Exposure
Financial Decisions
AITX has made several decisions aimed at strengthening its financial position and supporting growth. These include raising funds through share issuances and debt, which is tough for current stockholders like me because you get diluted, but it helps the company grow. The company’s also taken steps to cut expenses by up to $200,000 each month, further supporting its path to profitability. We’re praying for that one.
Media and Entertainment Visibility
AITX has gained increased visibility in the media and entertainment with its robotic security devices being featured in upcoming movies and a major television network series. This exposure showcases AITX to a broader audience but also positions the company as a leader in AI-driven security technology. So let’s see what Steve had to say. See a short clip from his video and a little bit of rad dog in that movie I mentioned. There’s also been a video of somebody equipping a unitry dog with a flamethrower.
Market Challenges and Future Prospects
Current Pullback Reasons
Exactly why has AITX been pulling back? The reasons were:
- Overall market pullback and high interest rates are affecting AITX like many other stocks. And of course, penny stocks in particular are really affected by the high interest rates.
- AITX is experiencing an increased short interest. More traders are betting against it and that’s been pushing it down.
- Historically, looking at AITX chart, it’s very volatile as news changes.
- The increased authorized share count has put off many investors and traders causing the stock to even pull back further.
Future Outlook
The company has also reported a 383% rise in its solutions as a service (SaaS) segment year over year and a 476% growth in recurring monthly revenue pointing to a potential turning point for the company in 2024. AITX is also on track to achieve operational profitability by August 2024. This indicates that the company’s operations can be self-sustained without external financing marking a key achievement in its financial management.
TradingView and AI Software Trading
Next, you want to check out TradingView. I took off some time from creating YouTube videos to study AI software trading and investing because that is definitely the way of the future. And if you have interest in those areas, everyone should, in my opinion, you really need to check out TradingView. It’s used now by over 60 million traders and investors worldwide and it incorporates artificial intelligence. You can pretty much automate any trading strategy or investing strategy using TradingView. And in TradingView, they also have the top trading bots to make it easier for you to make more money. So I added a link to TradingView here: 🤩 đź’Ž Link To TradingView: https://www.tradingview.com/about/
Let me know if you follow particular stock trading gurus or have particular stock trading strategies that you’d like to automate so I can include those in videos to help you understand AI stock trading.
Conclusion
My take on it is to watch AITX closely for that OTC, penny stock market recovery. Then they have the potential to really zoom up, but watch them and see if they do end up with profitability later in the year. If you enjoyed this video remember to give it a like and subscribe while you’re at it. Watch the next video in our playlist about AI stock picks, trading, and investing.