Artificial Intelligence Technology Solutions Inc. (OTCMKTS:AITX) is down 10% in a week. The company’s subsidiary Robotic Assistance Devices Inc., has won a three-unit ROSA180 order from a leading auto group in North California.
In addition, the company said that the client had recently ordered 6 ROSA180 units for dealership location protection despite not naming the customer. Robotics Assistance Devices CEO Steve Renharz said the order is repeated order as ROSA180 continues to exceed expectations. He added that the company had seen several follow-up orders in recent months as clients experience RAD and Rad solutions contributions.
AITX recently reported exceptional fiscal Q1 2022 financial results in which revenue was up 785% YoY. Reinharz said that Q1 was a critical growth period with significant progress made in various business segments. He added that the company is executing its strategic priorities, which put it and affiliates in a strong position. Therefore, in the coming weeks, AITX is worth watching.
Market Reaction:
On Tuesday, AITX stock fell 3.33% at $0.0363 with more than 31.76 million shares, compared to its average volume of 38.82 million shares. The stock has moved within a range of $0.0352 – 0.0377 after opening the trade at $0.0375.
