Artificial Intelligence Technology Solutions Inc. (OTCMKTS: AITX) ended the day at $0.0093 on more than 67,925,356 shares exchanging hands compared to an average daily volume of 32,771,300.
Talks about Naked Short Selling
In a recent press release, AITX announced that Steve Reinharz, the CEO of the Company, will be engaging in two high-profile media outreach campaigns this weekend. On Friday, February 3rd, 2023, Reinharz will join a CEO roundtable webinar to discuss the topic of naked short selling. Roger Hamilton, the CEO of Genius Group Limited, hosts the webinar.
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Naked short selling, also known as naked shorting, is a prohibited practice of selling an asset without first borrowing or ensuring its availability for borrowing. Despite being illegal under Securities and Exchange Commission regulations, naked short selling continues to occur, with Hamilton stating that it has a larger impact on more companies than is commonly recognized.
AI Stocks In Focus
AI stocks have gained significant attention in recent years due to the rapidly growing demand for AI technology across various industries. The advancements in AI technology have enabled companies to automate certain processes, improve decision-making, and drive operational efficiencies, which has resulted in increased interest and investment in AI stocks. Additionally, the COVID-19 pandemic has accelerated the shift toward digital transformation, further increasing the demand for AI solutions.
Moreover, the increasing use of AI in various industries, such as healthcare, finance, and retail, has made it a promising and growing sector for investment. The potential of AI to transform and improve various business processes has made it an attractive area for investment for both individuals and institutional investors.
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AITX, through its subsidiary Robotic Assistance Devices, Inc. (RAD), is revolutionizing the $25 billion security and guarding services industry with its comprehensive lineup of AI-powered Solutions-as-a-Service. RAD’s solutions are engineered to provide businesses with cost savings ranging from 35% to 80% compared to the traditional, expensive manned security model. This substantial cost reduction is achieved through a combination of stationary and mobile robotic systems that supplement or even replace the need for human staff in environments better suited for machines. All RAD technologies, AI analytics, and software platforms are developed in-house.
RAD has a promising sales pipeline of over 35 Fortune 500 companies and numerous other potential clients. RAD anticipates continued growth as it converts its existing sales opportunities into deployed clients and establishes a recurring revenue stream. Each Fortune 500 client has the potential to place multiple orders over time.
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Disclosure: we hold no position in AITX, either long or short, and we have not been compensated for this article
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