Profit booking is a factor that can often catch investors unawares and such a thing may have happened with the investors of Artificial Intelligence Technology Solutions (OTCMKTS:AITX). As investors decided to take some of the profits off the table, the stock tanked sharply and ended the day with a decline of as much as 15%.
Receives 25 Unit Order from a Leading Attractions Industry Operator
However, at the same time, it is perhaps important to point out that despite the fall yesterday the Artificial Intelligence Technology Solutions stock is still up by as much as 40% over the course of the past week. As it happens, the company also made a key announcement yesterday that could have an effect on the stock price.
Artificial Intelligence Technology Solutions announced yesterday that its fully owned subsidiary company Robotic Assistance Devices managed to bag yet another order. This time the order was from a leading player in the attraction industry.
The client placed an order of as many as 25 units of Robotic Assistance Devices units. More importantly, this marks the entry of the company into the potentially lucrative amusement and attractions industry. Hence, it could be a good idea for investors to add the Artificial Intelligence Technology Solutions stock to their watch lists.
Key Quote:
Included in the 25 unit, 6 month pilot program are 2 ROAMEO mobile security robots, 22 ROSA180 stationary devices, and 1 Wally unit. “We expect that these units will have thousands of interactions with the client’s guests as we maintain the highest levels of safety and security. The client headquarters will have a Wally deployed to assist with security and visitor functions as well,” said Mark Folmer, RAD President and COO.
Traders Note:
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 200-Day moving average of $0.0745. The stock is up 10% so far this year.
Market Reaction:
On Wednesday, AITX stock lost 15.49% at $0.0382 with more than 168.21 million shares, compared to its average volume of 31.80 million shares. The stock has moved within a range of $0.0358 – 0.0520 after opening the trade at $0.0475.
