Volatility in stocks is not always a bad thing since it can often lead to considerable gains as well and that is what seemed to have happened with the Alfi Inc (NASDAQ:ALF) stock yesterday. The stock saw heavy action on Tuesday and ended the day with gains of as much as 41%.
In light of such gains, it might be a great idea for investors to take a closer look at it. The heavy action in the stock was triggered by a major announcement from Alfi on Tuesday. The company announced that it was going to further expand its tablet rollout meant for those who provide ride shares.
That is a significant development considering the fact that it could be a trigger for long term growth for Alfi and investors are possibly excited about that very possibility. The company is involved in the machine learning and artificial intelligence space and for quite some time, it has attracted the attention of investors who are interest in potentially high growth companies. As a matter of fact, the company currently holds partnerships with some of the biggest names in the industry like Lyft and Uber. That is another factor behind the optimism around the small cap stock.