This Artificial Intelligence (AI) Stock Was Labeled an "AI Imposter" and Written Off as No More Than a Government Contractor. Now It's Joining the S&P 500 and Shares Are Soaring.
Remember when blockchain technology, the metaverse, and SPACs all seemed poised to be the "next big things" in investing? The hype (and the stock prices) in those cases may have gotten a bit ahead of themselves.
Perhaps in part as a result, in recent years, those who follow the technology sector have put extra scrutiny on companies claiming that they're poised to benefit from opportunities in artificial intelligence (AI). And I get it. Any time there's even the slightest hint of a megatrend getting underway, it's inevitable that some companies will try to climb on board, even if their connections to it are tenuous. I'm looking at you, Long Island Iced Tea Corp. -- or should I say, Long Blockchain Corp.?
For a while now, one particular company with aspirations in the AI space has been at the center of many bearish narratives. Yet despite this, it has continued to make a name for itself. Now, it's joining one of the most exclusive clubs in the business world: the S 500.
Source Fool.com
