$IFBD Low Float AI Sympathy PlayRecently Infobird Co., Ltd (NASDAQ: IFBD) experienced a substantial increase in popularity due to its position as a low float AI stock post Advanced Health Intelligence Ltd. (NASDAQ: AHI) climbing more than 1000%. IFBD’s rise in popularity is simply due to the fact that it is a prominent Chinese AI stock and a possible sympathy play candidate. In this way, IFDB stock could be setting up for a major run this week.
IFBD Fundamentals
In order to maintain compliance with the NASDAQ minimum bid price requirement, IFBD executed a 5 for 1 reverse split that left the stock with a micro float of 3.9 million, which makes it attractive to many investors. As a result, an increasing number of investors are eyeing IFBD as a possible AI sympathy play after AHI stock surged last week.
Due to AHI’s meteoric rise on June 9, AI stocks such as Grom Social Enterprises, Inc. (NASDAQ: GROM), and IFBD have experienced runs in sympathy. While IFBD stock’s measly run of 14% run does not compare to AHI’s 1018% run or GROM’s 61% run, there is reason to believe that IFBD stock might soar this week. As is, IFDB is the stock with the most new watchers in the last 24 hours on StockTwits and is currently trending on Twitter.
Additionally, IFBD is a Chinese AI stock and AI stocks and Chinese stocks are rising in popularity at the moment which is promising since an increasing number of investors are pouring investments into stocks that fall into those categories. Considering its nature as a Chinese AI stock and its low float, IFBD seems poised to run as a prominent sympathy play candidate to AHI stock.
When it comes to short data, IFBD has a high cost to borrow of 222% which could be an early sign of a short squeeze. Considering the stock’s extremely low float and rising popularity, IFBD stock might surge this week and reach new heights.
IFBD Financials
According to IFBD’s 2022 annual report, assets decreased YoY from $28.4 million to $16.6 million, which is largely due to its cash balance decreasing from $6.2 million to $1 million. That said its liabilities also decreased from $12.5 million to $10.1 million.
Its income statement also has its fair share of shortcomings including its revenues which suffered a YoY declines from 2020. In 2020, IFBD realized $14 million in revenue, however, that figure decreased to $9.6 million in 2021 and again in 2022 to $5.5 million. On the other hand, its total operating expenses decreased from $16.7 million to $16.3 million. That said, IFBD’s net loss increased from $14.2 million to $16.1 million. While these figures are alarming they are not likely to affect the stock in the short term.
Technical Analysis
IFBD stock is in a neutral trend and is trading in a sideways channel between its support at $1.33 and its resistance at $1.62. Looking at its indicators, IFBD is above its 200, 50, and 21 MAs which are bullish indications. Meanwhile, the RSI is neutral at 55 and the MACD is approaching a bullish crossover.
As for its fundamentals, IFBD stock is a low float Chinese AI stock that is experiencing a drastic increase in popularity in response to AHI stock’s meteoric rise. Based on this, IFBD could be one to watch closely this week as it could soar in sympathy.
IFBD Forecast
All eyes are on IFBD stock since it could be considered a prominent sympathy play candidate to AHI stock. With the stock gaining social media momentum – especially on StockTwits and Twitter – IFDB might soar this week thanks to its extremely low float following its recent reverse split.
