Although the Artificial Intelligence Technology Solutions Inc (OTCMKTS:AITX) stock declined last week and ended up with losses of 4%, it should be noted that there was no negative news about the company.
Trading Data
On Friday, AITX stock fell 0.40% at $0.0297 with more than 32.41 million shares, compared to its average volume of 36.22 million shares. The stock has moved within a range of $0.0290 – 0.0325 after opening trade at $0.0290.
Receives Order for ROAMEO Mobile Security Robot from Romanian Dealer Civitas Group
As a matter of fact, this past Friday the company made an announcement that could be seen as a major positive. Artificial Intelligence Technology Solutions announced on the day that its fully owned subsidiary company Robotic Assistance Devices Inc had managed to bag another key order. The latest order had been placed by one of the biggest security companies in Romania named Civitas PSG.
The order placed by Civitas PSG is for a ROAMEO (Rugged Observation Assistance Mobile Electronic Officer) 2.0 device. As per a previous letter of intent that had been signed by the dealer, a total of three ROAMEO units could be ordered. Hence, it can be argued that despite the decline in the Artificial Intelligence Technology Solutions stock last week, the announcement on Friday could lead to a certain degree of positivity about the stock. Hence, it remains to be seen if the announcement coupled with the decline in the stock last week leads to any interest in the Artificial Intelligence Technology Solutions stock this week or not.
Key Quote
This will be RAD’s first ROAMEO deployment in the European market. “We are very excited to roll out ROAMEO to our clients and prospects,” said Rene Pasculescu, CEO at Civitas Group. “We’ve enjoyed working with RAD since we signed as a dealer late last year, having deployed a few devices. Now that ROAMEO is available, we should see even greater results.”
Technical Data
AITX stock is trading below the 50-Day and 200-Day Moving averages of $0.0330 and $0.0343 respectively. Moreover, the stock is below the 200-Day moving average of $0.0694. The stock is down 17% in the past 3-month.
