Hello, Inside Alpha readers! We have arrived at the middle of the week, and it’s time to check on our stock picks. Each and every week at Inside Alpha, we select three stock picks from the same sector at the beginning of the trading week, and then track their progress throughout the week. As the trading week comes to a close, we will choose a winner among our three stock picks, known as the Alpha, based on percentage gain. This week we have been focusing on the artificial intelligence (AI) sector, which has been grabbing headlines in the financial press lately. 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. Without further ado, let’s forge ahead and see how the three AI stock picks are doing!
Let’s begin with our first artificial intelligence stock pick of the week, Globalive Technology, Inc. (TSX.V:LIVE, OTC:LVVEF). Globalive Technology, Inc. is headquartered in Toronto, Ontario, Canada, and the company develops software applications and technology platforms primarily using artificial intelligence, the Internet of Things (IoT), and blockchain technology. When the market closed on Friday, LIVE stock shares were trading at CAD$0.52, and at the close of the market on Tuesday, Globalive Technology, Inc. shares cost CAD$0.50 for a loss of 3.8%. Perhaps we’ll see Globalive Technology, Inc. stock shares make a comeback in the next few trading sessions.
Now we’ll move on to our second artificial intelligence stock selection for the week, Venzee Technologies Inc. (TSX.V:VENZ, OTC:SNSFF). Venzee Technologies Inc. is based in Vancouver, BC, Canada, and the company develops a cloud-based platform for suppliers and manufactures in various industries. VENZ stock shares finished trading on Friday at CAD$0.225, and upon the close of the market on Tuesday, Venzee Technologies Inc. stock shares were priced at CAD$0.205, representing a loss of 8.9%. This is indubitably a rough start for Venzee Technologies Inc. stock, but there’s always hope for some upside in the coming days.
It’s time to take a look at our third artificial intelligence stock pick of this week, Yext, Inc. (YEXT). Yext, Inc. is located in New York City, and the company provides knowledge engine platforms for the healthcare, retail, and financial services industries. When the market ended its regular trading hours on Friday, YEXT was priced at $26.85, and at the close of trading on Tuesday, Yext, Inc. stock shares were trading at $25.98, signifying a loss of 3.2%. Although this is indeed a loss, it nevertheless puts Yext, Inc. stock in the lead among our three AI stock picks so far.
Machine learning has been getting plenty of attention recently, and hopefully this will be reflected in the stock prices of our three AI-sector picks. You won’t want to miss the exciting conclusion of this week as we crown a winner – the Alpha – among our artificial intelligence stock selections. See you soon!