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The Bot Brief

POSTED 12/03/2023

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"There is no force on earth more powerful than an idea whose time has come."     
- Victor Hugo
 
 
The Bot Brief:
Bot Index vs. S & P 500
 
The Bot Index and the S & P 500 ended the month of November in a performance doze. The Bots gained a mere 10 basis points that slipped a bit below the 77 basis points of the broader market. While the Japanese stocks were profoundly down for the week there were a couple of poor domestic performers. iRobot fell 11.33%, giving back some of the 36% gain of the prior week. Leading to the decline was the appearance of the European approval for the acquisition of iRobot by Amazon seemed to come into question.
 
 Accuray Inc. fell 8.63% on volume of 1.45 million shares on Friday, versus the company’s traditional 250k daily volume. A similar trading pattern was noted on November 8th with 1.06 million shares traded. Seems likely an institutional holder is moving out!
 
3D Systems rose another 7.81%, following it’s 15.15% and 11.16% increases in consecutive weeks. An inside Director Thomas Erickson announced the purchase of 50,000 shares, joining acquisitions by other insiders over the past weeks.
 
The drone maker AeroVironment gained 4.75% as the Israel and Hamas conflict resumed. Investors Business Daily printed a column entitled, Stocks to Buy and Watch, AVAV Stock up 20% in November as Drones in High Demand.
 
ABB Ltd. stock rose 4.57% during the week as the company announced “Under a new contract, ABB will build the hyperspectral cameras for four GHGSat satellites set to launch in 2024. Performance in orbit of seven ABB-built optical sensors delivered to GHGSat between 2021 and 2023 has exceeded expectations and contributed to the new contract. Over the past two years, GHGSat has enabled the mitigation of 5.6 million tons of carbon dioxide equivalent emissions from industrial facilities around the world.”