Last Friday, the Artificial Intelligence Technology Solutions Inc (OTCMKTS:AITX) stock suffered from a steep selloff and ended the day with a decline of 5%. In addition to that, the decline took the cumulative losses suffered by the stock to as much as 20% for the whole week.
Trading Data
On Friday, AITX stock fell 5% to $0.0183 with more than 21.84 million shares, compared to its average volume of 37.66 million shares. The stock has moved within a range of $0.0181 – 0.0199 after opening trade at $0.0195.
Robotic Assistance Devices Awaits One Final Signature on Order from Major US Regional Airport for 2 SCOT Security Robots
However, at the same time, it should be noted that the company made a fairly important announcement on Friday. Artificial Intelligence Technology Solutions announced that a significant regional airport in the United States had decided to use its 2 SCOT security devices. The devices in question are going to be producer from Robotic Assistance Devices, which is a fully owned subsidiary unit of Artificial Intelligence Technology Solutions.
In this regard, it is perhaps also necessary to note that one of the well known authorised dealers of Robotic Assistance Devices is working as the go between for the sale. The identity of the client has not been revealed by Artificial Intelligence Technology Solutions owing to non-disclosure agreements which are in place.
Despite the difficulties suffered by the stock last week, it may be a good time for investors to add Artificial Intelligence Technology Solutions to their watch lists and keep an eye on the latest developments.
Key Quote
“Airports and airport properties have been a key target market for RAD since day one,” said Steve Reinharz, CEO of AITX. “We all know that security at airports needs to keep up with the ever-evolving threats and technology. RAD’s solutions whether it’s ROSA, SCOT or ROAMEO provide an incredible, and affordable force-multiplier for airport security.”
Technical Data
AITX stock is trading below the 50-Day and 200-Day Moving averages of $0.0201 and $0.0230 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0475.
