Why is ALFI Inc. (NASDAQ: ALF) trending today?

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Why is ALFI Inc. (NASDAQ: ALF) trending today?

 Why is ALFI Inc. (NASDAQ: ALF) trending today?
Image source: Lightman4289,Shutterstock

Summary

  • ALFI Inc. (NASDAQ: ALF) was founded in 2018; it went public in May 2021.
  • Its share price has almost doubled since its launch.
  • Its disruptive DOOH technology is expected to revolutionize the way small businesses do their advertising.

ALFI, Inc. (NASDAQ: ALF) was down 3.14% to US$7.71 in the premarket session on June 21. On June 18, 2021, the stock had closed at 29.43% higher to US$7.96.

ALFI Inc. was founded in 2018 in Florida. It is an interactive intelligent AI and machine learning company. ALFI provides technology to observe human behavior through machine learning algorithms that provide real-time metrics. Its AI-enabled advertising delivers targeted ads on out-of-home (OOH) digital marketplace while maintaining privacy standards.

On June 15, the company announced a deal with All-Niter for supplying 10,000 digital tablets to Uber and Lyft drivers across the country. On this news, the share price jumped 104% from US$3.41 on June 14 to US$6.97 at the close of June 15, 2021.


 

Source: Pixabay

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ALFI, Inc.’s Plans

On June 17, the company announced that Miami, where it has a fulfilment center, would be one of the first ten cities where Uber and Lyft would use its ALFI tablets.

These tablets, powered by AI and machine learning, will help drivers to earn extra. It will give them the opportunity to share information such as places to eat, shop, etc. The company aims to ensure accountability and transparency in all privacy-related matters.

Small businesses that cannot afford ad campaigns can use ALFI tablets for advertising their content and getting various metrics on customers and their behaviors. ALFI launched its call center in Florida early this month to reach out to small-and-medium enterprises to sell the tablets.

Its Digital Out of Home (DOOH) feature makes it unique that may prove disruptive in the advertising world. It is also affordable for small and medium enterprises. ALFI is focused on viewer privacy and honest reporting. It claims that it does not store personal information and intend to provide real-time customer information such as demography, interactivity, and usage.

It claims to have enlisted 600 businesses for its tablets in Miami. 

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After listing on NASDAQ on May 5 this year, the share price traded in the range of US$2.8 to US$4.57. The stock has been rallying since June 14 and witnessed a record trading volume of 54,088,990 on June 18. It reported revenue of US$17,450 in the quarter ended March 31, 2021.

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