The company’s second international partnership to sell its AI conversational technology has helped revive the once-sleepy stock.
- Brand Engagement’s stock rose by 90% on Friday, prompting high buzz among retail traders on Stocktwits.
- BNAI saw a 50% rise in retail watchers over the last week.
- Brand Engagement formed a partnership to roll out AI-powered solutions for the broader African market.
Shares of micro-cap AI chatbot firm Brand Engagement Network, Inc. drew heavy buzz on Stocktwits late Sunday, after a new licensing-cum-investment deal sent the stock soaring last week.
Brand Engagement announced a partnership with South Africa-based Valio Technologies to form a joint venture that will develop an AI licensing framework for government and commercial markets across Africa. As part of the deal, the entity will invest $2 million in BEN in return for licensing its AI conversational technology.
The development – BEN’s second major international AI licensing agreement following the Skye LATAM partnership in Latin America – sent its shares soaring 90% on Friday, bringing it high up on retail investors’ radar. That lifted the company’s market capitalization to $74 million, up from $10.4 million at the start of the year.
On Stocktwits, retail sentiment for BNAI shifted to ‘extremely bullish’ as of late Sunday, from ‘bullish’ the previous day, amid ‘extremely high’ message volume. Retail watchers for the ticker increased 50% last week, while chatter surged by a whopping 4,700% in the period.
Several Stocktwits posted saying that they added BNAI to their portfolios and expected continued upward momentum, especially given the current interest in AI sector plays.
BEN builds AI-powered chatbots and digital assistants that help businesses improve customer service and sales across industries like automotive, healthcare, and retail.
The company reported $5,000 revenue, $3.7 million in other income, and $0.9 million in net income in the September quarter. The company completed a 1-for-10 reverse stock split last month.
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