This Small-Cap AI-Levered Stock Spikes On Heavy Volume: Retail Mood Brightens

Published : Dec 18, 2024, 12:55 AM IST
This Small-Cap AI-Levered Stock Spikes On Heavy Volume: Retail Mood Brightens

Synopsis

Last week, Rezolve AI said it is actively participating in initiatives to align with the Department of Government Efficiency

U.K.-based Rezolve AI Limited’s ($RZLV) stock was soaring more than 18 times its average volume on Tuesday, attracting retail attention.

The stock opened Tuesday’s session at $2.17, up from the previous session’s close of $2.13, and moved steadily higher. It has so far traded in a $2.17 to $4.00 range. 

Tuesday’s rally came amid a lack of any meaningful catalyst. 

Rezolve offers a retail and engagement technology solution that acts as an instant tool for mobile devices.

Last Thursday, the company said it is actively participating in initiatives to align with the Department of Government Efficiency (DOGE) set up by the incoming administration under President-elect Donald Trump. 

The company said its solutions are well-positioned to support DOGE’s goals. Its tools streamline operations for retailers and optimize staffing by automating routine tasks, allowing human resources to focus on higher-value responsibilities. 

Rezolve AI is also striving to participate in the crypto rally by integrating the Tether Wallet Development Kit into its Brain Checkout platform, which will allow cryptocurrency transactions for everyday purchases.

In late November, the company announced strategic reseller partnerships with Microsoft Corp. ($MSFT) and Alphabet, Inc.’s ($GOOGL) ($GOOG) Google for its conversational AI solutions. These tech giants have committed to promoting the company’s AI technologies through their sales channels. 

Rezolve AI went public through the Special Purpose Acquisition Company (SPAC) route by merging with the blank-cheque company Armada Acquisition. Its shares were listed on the Nasdaq on Aug. 16. 

Sentiment toward Rezolve AI stock turned ‘ extremely bullish’ (81/100) on Stocktwits, improving from the ‘neutral’ mood seen a day ago. The sharp spike in the stock set off retail chatter, which grew to ‘high’ levels.

A Stocktwits platform user said they will hold the stock eyeing a break above $8 level, citing a slew of catalysts.

A message by another user suggests the stock was likely being pumped up.

At last check, Rezolve AI stock was up 72.30% at $3.67, while it has plunged about 80% since its mid-August listing. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.<

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