The Bot Brief

"There is no force on earth more powerful than an idea whose time has come."     

- Victor Hugo

Bots in the News:

Despite the turbulence within the week, neither the broad market nor the Bot Index showed much week-to-week movement in either direction. NIO Inc. was the sole stock that gained in double digits with its 11.59% jump following May shipments. The Chinese EV maker reported that its May shipments rose 233.8% over the prior May of 2023 to 20,544 units. Futhermore, the YTD gain was 51% over the 2023 number. The stock has experienced a turbulent history since it IPO’ed in September of 2018 at a price of $6.26. From that time the stock has ranged from $57 to $1.19. Clearly, not an investment for the weak hearted.

There were only two stocks that experienced any significant weakness. The latest addition to the Bot Index, Novanta led the losers with an 8% slide. There was no major news which would account for the weakness. It should be noted that volume for the week was extremely low until Friday when volume doubled over the prior average for the week and drove the shares upward by just under 2%.

The other significant loss was attributed to Fanuc Inc., who fell 4.45%. The Japanese component of the Index has been somewhat weak in recent trading days, contributing to the Bot Index’ lagging the S & P 500.

And, No It Doesn’t Wear a Kilt:

And this robot won’t take up much space on the bulkhead of your next airline flight. The engineers at the James Watt School of Engineering in Glasgow have created an alternative to K9 seeing eye dogs. The four-legged mechanical device has been designed to look like its furry counterparts yet have more communication skills. The robot, named RoboGuide, is AI powered and, “Is equipped with an array of sophisticated sensors that map out environments with precision. Its software allows it to learn and navigate optimal routes while avoiding obstacles. And with large language model technology, it can converse with its users, answering questions and providing guidance.”