Artificial Intelligence Technology Solutions (OTCMKTS: AITX) Action Sees Profit Realization at a Higher Level
Profit accounting is a factor that can often surprise investors and such a thing may have happened with investors in artificial intelligence technology solutions (OTCMKTS: AITX). As investors decided to take some of the profits off the table, the stock fell sharply and ended the day with a drop of as much as 15%.
Receives an order for 25 units from a leading operator in the attractions industry
However, at the same time, perhaps it’s important to point out that despite yesterday’s drop, the share of artificial intelligence tech solutions is still up 40% over the past week. As it turns out, the company also made a key announcement yesterday that could impact the share price.
Artificial Intelligence Technology Solutions announced yesterday that its wholly-owned subsidiary Robotic Assistance Devices has successfully won a new order. This time, the order came from a leading player in the attraction industry.
The customer ordered up to 25 units of robotic assistive devices. More importantly, it marks the company’s entry into the potentially lucrative entertainment and attractions industry. Therefore, it might make sense for investors to add the stock of artificial intelligence technology solutions to their watch lists.
The pilot program of 25 units over 6 months includes 2 ROAMEO mobile security robots, 22 ROSA180 stationary devices and 1 Wally unit. “We expect these units to have thousands of interactions with the client’s customers, as we maintain the highest levels of safety and security. The customer’s head office will have a Wally deployed to also support security and visitation functions, ”said Mark Folmer, President and COO of RAD.
Note from traders:
AITX stock is trading above the 20-day and 50-day moving averages of $ 0.0337 and $ 0.0366. However, the stock is trading below the 200-day moving average of $ 0.0745. The stock is up 10% since the start of the year.
On Wednesday, AITX stock was down 15.49% to $ 0.0382 with more than 168.21 million shares, compared to its average volume of 31.80 million shares. The stock traded in a range of $ 0.0358 to 0.0520 after opening the trade at $ 0.0475.