Artificial Intelligence Technology Solutions (AITX) Stock Suddenly Gains: But Why?

Last week Artificial Intelligence Technology Solutions (OTCMKTS:AITX) had made an announcement with regards to new orders that had been received by its fully owned subsidiary company Robotic Assistance Devices. It seems that was the reason why the stock emerged as a major gainer on Tuesday and ended the day with gains of as much as 20.50%.

Last week, it had been announced that Robotic Assistance Devices had got an order for as many as 12 devices from a total of three clients. In this regard, it is interesting to note that one of the units is going to be installed in Alaska and it is also going to be the first Robotic Assistance Devices unit in the region.

It has been revealed by the company that the units can work in all kinds of weather and will work efficiently in Alaska as well. The Chief Executive Officer of Artificial Intelligence Technology Solutions spoke about the order as well.

He stated that two out of the three orders had been generated by two of the new business development managers. He went on to state that it is a good thing that the new business development could close deals in the early days of their tenure.

Market Reaction:

On Tuesday, AITX stock jumped 20.50% at $0.0493 with more than 30.81 million shares, compared to its average volume of 42.94 million shares. The stock has moved within a range of $0.0410 – 0.0500 after opening the trade at $0.0410. Over the past 52-week, the stock has been trading within a range of $0.0010 – 0.2899.