- Remark Holdings´stock price has been falling for four consecutive days.
- Hopes and concerns about its AI technology are eyed.
- Elevate usage of thermal scanners for reopening the economies also provides hope.
What goes around comes around – at least partially. NASDAQ: MARK surged from around $0.50 in early May to a close of $3.40 on May 27 but has been falling in the past four trading sessions. At a closing price of $2.24 on Tuesday, shares of the Las Vegas-based firm are already down by around a third.
Pre-market trading suggests a recovery, albeit a modest one.
Mark stock news
The most recent development came via a partnership to supply Artificial Intellenginece technology in China. While the world's second-largest economy is a vast market, some have raised concerns that collaborating with a country that is becoming growingly authoritarian and follows its citizens too closely may backfire.
The anti-China sentiment is rife in America, primarily driven by President Donald Trump, but also egged on by Democrats. That may limit the firm's ability to expand.
The bulk of the surge came from the usage of MARK's thermal scanners for monitoring potential COVID-19 patients. The devices can run over 120 people per minute, which it claims to be ten times faster than more expensive manual fever measurements.
Nevertheless, the kit is used only for the reopening phase. If things improve, the equipment may become useless. And if a second wave hits Western countries, they may reimpose lockdowns, removing the need for scanning, or at least limiting its scope.
Overall, Remark Holdings Inc faces sobering challenges that put in doubt the recent enthusiasm. On the other hand, the company is worth only around $222 million according to its close price. Showing decent revenues from its products may cause a rethink and send shares to a higher valuation.
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