A big bet on Artificial Intelligence had more than a few speculators buzzing Monday. Here’s some small stocks making big moves on Monday, Sept. 25, 2017 (as of 4 pm EST):
Everfront Ventures Corp. (TSXV: EVC), an artificial intelligence stock, jumped as much as 12% before ending up 4% at $0.135 on Monday after announcing that it has acquired Nexalogy Environics, a business intelligence and data analysis provider. The purchase price of $6 million consists of cash and Everfront Ventures stock.
Artificial intelligence is an emerging and fast-growing field with the market potential estimated to reach $50 billion within the next three years. The AI market is being driven by varied applications, like data processing, deep learning, machine learning, driverless cars, and a host of new uses that continue to emerge.
Numerous AI businesses that are developing innovative AI technologies are being funded by venture capitalists, while some are acquired by technology behemoths like Miscrosoft, Alphabet (NASDAQ:GOOGL) (Google), Apple (NASDAQ:AAPL), Intel (NASDAQ:INTC), Facebook (NASDAQ:FB), among others. Smaller AI companies also scout and acquire complementary AI firms, such as the one that happened yesterday in Canada with Everfront Ventures Corp., the holding company of Datametrex that offers a plug-and-play solution for vendors, acquired Nexalogy Environics, a business intelligence and data analysis provider through its artificial intelligence platform to government agencies and Fortune 500 corporations.
Other key smallcap stocks that moved yesterday included Titan Medical Inc. (TO:TMD) on successful completion of the world’s first gynecologic, colorectal and urologic single-port robotic procedure; and Novo Resources Corp. (V:NVO) on announcing exploration plans at the Denver Gold Forum on Monday.
Read the original article from Small Cap Power here.