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The Bot Brief
POSTED 07/21/2024
"There is no force on earth more powerful than an idea whose time has come."
- Victor Hugo
Bots in the News:
Despite a fragile week in trading, the Bot Index fell less than the broader market. The bots declined 1.53% whereas the S & P 500 slid 1.86%. While the market turmoil forced most equities into lower territory, the Bot Index contained several good performers, including one experiencing a double-digit increase.
By far the best stock in the 30 stock Bot Index was the 13.24% gain recorded by Immersion Corp. The company has been on a recent upsurge noting the stock’s 69+ percent increase since late April. The haptics company is becoming ‘discovered’ by Wall Street following its March quarter earnings which showed a profit margin of 62.7%, a ROE of 24.16%, 519% quarterly revenue growth and a 125% earnings increase, a 1.4% yield while sporting only a 7.9x forward P/E multiple. It is no wonder that research firms recently issued analysis with titles such as, “3 Stocks Set to Dominate the Market by 2030”, “Returns Are Gaining Momentum at Immersion”, and “Best Value Stocks to Buy for July 5th”.
The stock of iRobot increased 7.7% as investors noted a major new position was taken by an institutional investment firm.
Intuitive Surgical (ISRG) shares traded at an all-time high Friday after the maker of robotic medical devices posted better-than-expected second-quarter results on soaring demand for its da Vinci surgical machine. The stock gained 2.44% for the week, however, the Friday report lifted shares $38.87 or 9.34%.
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The company reported adjusted earnings per share of $1.46. Revenue increased 14.5% to $2.01 billion. Both exceeded forecasts. The company cited a strong upswing in surgical procedures following delays associated with the covid pandemic.
Member: American Economic Association, Society of Professional Journalists, United States Press Association. Institute of Chartered Financial Analysts, Robotic Industries Association (now A3 Automation), 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 view of Balcones Investment Research, LLC. Due to the complex and rapidly