Weekly Bot Brief Newsletter on Robotics 4/16/2021
Bots in The News:
The Bot Index experienced a bar-belled performance from many of its components in trading this week. Fully, twenty percent of the companies that comprise the index either gained in excess of 4% or fell by the same amount. As a result, the Bot Index gained only 37 basis points for the week while the broader market rose 1.37%.
At the positive end of this performance spectrum NVIDIA Corp. led the gainers with its 10.50% jump. The stock was touted by Raymond James analysts who increased their trading target from $700 to $750. The stock last traded at $636.50 which would represent a tidy 18% gain. The analysts reacted to NVIDIA’s announcement that it was preparing to release its Grace Server processor in 2023. This is considered a breakthrough in the chip industry in terms of educating Artificial Intelligence algorithms.
Tesla rose 9.27% in a continuation of its potential benefit from the infrastructure building bill. Of course, the fact that the company earned $1 billion from its ten week’s holding of bitcoins did not hurt its appraisal by investors.
Brooks Automation continued its increase from $77.66 that it recorded on March 5, 2021 to close at $102.33. The tally for the week was a gain of almost 7%. The stock was pushed this week due to a Zachs feature entitled, “Here's Why Momentum Investors Will Love Brooks Automation”.
The Swiss firm ABB Ltd. also continued its longer-term uptrend with a 4.05% gain. The company’s management issued an increase in revenue guidance for all of 2021 and expects EBITDA to rise 13.5% in the upcoming quarter in year over year comparisons.
Of the losers there was no major news that would account for their rather significant declines. The worst performer was 3D Systems whose continuing legal woes dragged down the stock by over 10%. NIO Ltd. fell 5.32%, Yaskawa Electric declined 5.44% and AeroVironment slid 4.22%.
Houston: “We have a hot pizza”:
Last year we reported on the approval by the Department of Transportation that a venture firm Nuro would be permitted a special exemption from federal safety requirements for a driverless delivery vehicle. At that time, the firm provided grocery deliveries and pharmaceuticals for CVS. This week the firm announced it will be delivering Domino’s pizzas in the Houston Woodland Heights neighborhood. If the pilot is deemed successful, the whole city can be awash in pasta.
Member: American Economic Association, Society of Professional Journalists, United States Press Association. Institute of Chartered Financial Analysts, Robotic Industries Association, Member IEEE.
The Bot Brief is a weekly newsletter designed for economists, investment specialists, journalists, and academicians. It receives no remuneration from any companies that may from time to time be featured in the brief and its commentaries, analysis, opinions, and research represent the subjective views of Balcones Investment Research, LLC. Due to the complex and rapidly changing nature of the subject matter, the company makes no assurances as to the absolute accuracy of material presented