Hello, Alpha traders in all corners of the world! As we come to the end of another week in the markets, we’re ready to check on our stock picks and separate the winners from the sinners. What we do at Inside Alpha is choose three stock picks from the same sector at the beginning of each trading week, and then track their progress throughout the week.
On days like today, when the week is heading toward a close, we select a winner among our three stock picks, known as the Alpha; this winner is based on percentage gain. We have been focusing on the artificial intelligence (AI) sector this week, and there certainly were challenges along the way but profits can still be found.
Please note that for Canadian stocks that have both Canadian and U.S. versions, I will use the Canadian version, but the U.S. version will likely have similar results on a percentage gain-or-loss basis. Okay, enough with the warm-up – let’s check on our three AI stock picks and choose a winner!
To begin, we’ll take a look at our first artificial intelligence stock pick of the week, Globalive Technology, Inc. (TSX.V:LIVE, OTC:LVVEF). Located in Toronto, Ontario, Canada, Globalive Technology, Inc. develops software applications and technology platforms primarily using artificial intelligence, the Internet of Things (IoT), and blockchain technology.
LIVE stock shares ended the trading day on Friday at CAD$0.52, and upon the close of the market on Thursday, Globalive Technology, Inc. stock shares were priced at CAD$0.52, representing a flat performance. Hey, at least we can say that investors survived these challenging past few days!
Next up, we’ll check up on our second artificial intelligence stock selection for the week, Venzee Technologies Inc. (TSX.V:VENZ, OTC:SNSFF). Headquartered in Vancouver, BC, Canada, Venzee Technologies Inc. develops a cloud-based platform for suppliers and manufactures in various industries.
Upon the close of trading on Friday, VENZ was priced at CAD$0.225, and at the close of trading on Thursday, Venzee Technologies Inc. stock shares were trading at CAD$0.18, signifying a loss of 20%. Tough times for VENZ long positions – no doubt about that!
Finally, the big finish: let us take a look at our third artificial intelligence stock pick of the week, Yext, Inc. (YEXT). Based in New York City, Yext, Inc. provides knowledge engine platforms for the healthcare, retail, and financial services industries. When the markets closed on Friday, YEXT stock shares were trading at $26.85, and at the close of the market on Thursday, Yext, Inc. shares were priced at $25.88 for a loss of 3.6%.
This is disappointing for YEXT investors, but could be considered encouraging for LIVE investors, as Globalive Technology, Inc. stock is the best performer and hence the Alpha pick of the week.
Keep your spirits up, dear traders, and let’s look forward to next week with anticipation of great profits. We’re all winners here – but remember, there can only be one winner among the Alpha contenders, so keep coming back week after week to discover new picks and fresh news, right here at Inside Alpha!