Long Trade in SMRTSmartRent offers a home automation platform for property managers and renters.
While this is not a pure play on artificial intelligence, it somewhat fits into the AI/tech /software theme we see playing out.
It is only about $4 a share, but the company market cap is $770 million. This is not a longshot penny stock with no sales.
After consolidating in the $2-$3 range for 8 months, SMRT started moving in May. Shares rose by 75% in three weeks following a strong earnings report.
It is now trying to breakout out through resistance and its 200-day SMA is again trending upward.
Friday’s candle had a 10% range from low to high showing something of a tug-of-war at new highs.
If SMRT can close above $4.00 on above average volume, I would consider buying this stock.
