"Bubble" In AI/Semiconductor Stocks Began To Re-Inflate On Friday -

“Bubble” In AI/Semiconductor Stocks Began To Re-Inflate On Friday

Jul 28, 2024Jeremy ParkinsonFinance, No picture0

Image Source: UnsplashA week ago in an article posted here I suggested that the AI/semiconductor stocks that munKNEE tracks in its Portfolios on a weekly basis were oversold, a rebound was likely to happen shortly and that, as such, it was time to buy the dip. The sector decline continued into this past week bottoming on Wednesday and by the close of business this past Friday that rebound had been confirmed going up almost across the board by the end of the trading day.On Wednesday of last week 6 constituents declined, and 1 advanced, by 5% or more (see here), on Thursday only 2 had declined, and 4 advanced, by 5% or more (see here) and on Friday none had declined by 5% or more while 6 had advanced by 5% or more on the day.Below are the 6 “major movers”, in descending order, on Friday and for the week, along with a description of their areas of focus, the munKNEE Portfolios they are constituents in and other constituents in the Portfolio:

Verses AI (VRSSF): UP 23.4% last Friday; UP 16.1% in the week

Area of Focus: offers a voice and text-based personal AI assistant designed to learn about its users in order to better organize, manage, and optimize their digital life.
Portfolio Constituent: Micro/Small Cap AI Stocks Portfolio
Other Portfolio Constituents: INOD (+14.1%); SOUN (+6.0%); REKR (+5.1%); EVLV (+3.4%); DMRC (+1.3%); AAOI (+0.7%); BBAI (-1.3%); QBTS (-3.9%);

Innodata (INOD): UP 14.1% last Friday; UP 13.4% in the week

Area of Focus: provides AI-enabled software platforms and managed services for AI data annotation, AI digital transformation, and industry-specific business processes.
Portfolio Constituent: Micro/Small Cap AI Stocks Portfolio
Other Portfolio Constituents: VRSSF (+23.4%); SOUN (+6.0%); REKR (+5.1%); EVLV (+3.4%); DMRC (+1.3%); AAOI (+0.7%); BBAI (-1.3%); QBTS (-3.9%);

Quantum Computing (QUBT): UP 8.6% last Friday; UP 8.4% in the week

Area of Focus: develops and delivers quantum computing systems, software, and services worldwide
Portfolio Constituent: Pure-Play Quantum Computing Stocks Portfolio
Other Portfolio Constituents: IonQ (+3.5%); RGTI (+2.9%); QBTS (-3.9%)

SoundHound AI (SOUN): UP 6.0% last Friday; UP 3.1% in the week

Area of Focus: offers voice AI solutions that let businesses offer conversational experiences to their customer in 25 different languages
Portfolio Constituent: Micro/Small Cap AI Stocks Portfolio
Other Portfolio Constituents: VRSSF (+23.4%); INOD (+14.1%); REKR (+5.1%); EVLV (+3.4%); DMRC (+1.3%); AAOI (+0.7%); BBAI (-1.3%); QBTS (-3.9%)

AbCellera (ABCL): UP 5.2% last Friday; UP 10.1% in the week

Area of Focus: discovers antibodies from natural immune responses which are pre-enriched for antibodies and then outsources them to their partners, Eli Lilly and Company, Confo Therapeutics and Biogen Inc.
Portfolio Constituent: AI-Focused Drug Discovery Stocks Portfolio
Other Portfolio Constituents: RXRX (+3.7%); EXAI (+2.9%); ABSI (+2.3%); SDGR (+0.6%); RLAY (-1.3%)

Rekor Systems (REKR): UP last 5.1% Friday; UP 8.1% in the week

Area of Focus: leverages AI, machine learning, and holistic data to support the intelligent infrastructure for smart mobility.
Portfolio Constituent: Micro/Small Cap AI Stocks Portfolio
Other Portfolio Constituents: VRSSF (+23.4%); INOD (+14.1%); SOUN (+6.0%); EVLV (+3.4%); DMRC (+1.3%); AAOI (+0.7%); BBAI (-1.3%); QBTS (-3.9%)

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